Page
1 of 4
ECONOMIC HARDSHIP DEFERMENT
REQUEST
William D. Ford Federal Direct Loan (Direct Loan) Program
/
Federal
Family
Education Loan (FFEL) Program
/
Federal Perkins Loan (Perkins Loan)
Program
OMB No.
1845-0011
Form
Approved
Exp. Date
9/30/2018
HRD
WARNING
:
Any person
who
knowingly makes a false statement
or
misrepresentation
on
this
form or on
any accompanying document is subject
to
penalties
that
may include fines, imprisonment,
or both, under
the
U.S.
Criminal Code and 20
U.S.C.
1097.
SECTION 1: BORROWER
INFORMATION
Please enter
or
correct
the following information.
Check this box
if
any
of
your information
has
changed.
SSN
Name
Address
City State Zip Code
Telephone
-
Primary
Telephone
-
Alternate
Email
(Optional)
SECTION 2: BORROWER
DETERMINATION OF DEFERMENT
ELIGIBILITY
Carefully read
the
entire form before completing
it.
Complete Section
2
in its entirety. Maximum
cumulative
eligibility
is
36
months per loan program.
The federal student loan programs include
the
Direct Loan,
FFEL, and
Perkins
Loan programs. For
FFEL
Program borrowers only, you are
only
eligible
if
all
of
your FFEL
Program loans were
first disbursed
one or after July 1, 1993,
or if
you had
no
balance
on
a FFEL
Program loan
that
was disbursed before July 1, 1993 when
you
received a loan on or after July 1, 1993. Instead
of
deferment, consider a repayment plan
that
determines your
monthly
payment
amount
based
on
your income. Visit
StudentAid.gov/IDR
for
more
information.
1.
Have you been granted an Economic
Hardship
Deferment
on
a loan made under another
federal
student loan program
for the
same period
of time
for
which you are applying
for
this
deferment?
For example, check "yes"
if
you are
requesting
deferment
on
your Direct Loans because you are
on
the
deferment
on
your FFEL
Program
loans.
Yes
-
Attach documentation
of the deferment.
Skip
to
Section
3.
No
-
Continue
to
Item
2.
2.
Have you received
or
are you receiving
payments
under a federal
or
state
public
assistance
program
that
supports
the
period
of time for which
you
are
applying
for
this
deferment?
Qualifying programs include:
Temporary
Assistance
for
Needy Families (TANF),
Supplemental
Security Income
(SSI),
Supplemental
Nutrition
Assistance Program
(SNAP), state general
public
assistance,
or other
means-tested
benefits.
Yes
-
Attach documentation
of the payments.
Skip
to
Section
3.
No
-
Continue
to
Item
3.
3.
Are you serving as a Peace Corps
volunteer?
Yes
-
Attach documentation certifying
your
period
of
service. Skip
to
Section
3.
No
-
Continue
to
Item
4.
4.
Do you
work full time
(see Section 5)?
Yes
-
Continue
to
Item
5.
No
-
You are
not
eligible
for
this
deferment.
5.
What is your
monthly income?
You must attach documentation
of
your
monthly
income.
Monthly
income is either (you
choose):
Your gross income
from
all sources
or
One-twelfth
of the
Adjusted
Gross Income
from
your most recent federal income tax
return.
6.
What is your family size (see section
5)?
7.
Is
the amount
you reported
in
Item 5 less
than 150%
of the
poverty guideline
for
your family size
and
state
of
residence (see Table 2
in
Section 5)?
Yes
-
Continue
to
Section
3.
No
-
You are
not
eligible
for
this
deferment.
Page
2 of 4
Borrower
Name
Borrower
SSN
SECTION 3: BORROWER REQUESTS,
UNDERSTANDINGS, CERTIFICATIONS, AND
AUTHORIZATION
I request:
To defer repayment
of my
loans
for the
period
during
which
I
have an economic hardship,
as described
in
Section
2.
That
my
deferment begin
on:
If
indicated,
to
make interest payments
on my
loans
during my deferment.
I
understand
that:
I
am
not
required
to
make payments
of
loan principal
or
interest
during my deferment.
My deferment
will
begin
on the
later
of the
date
I
became eligible
or the
date
that I requested.
My deferment
will
end
on the
earlier
of the
date
that I
exhaust
my
maximum
eligibility, the
certified deferment
end
date,
or
when
I
am
no
longer eligible
for the
deferment
for
another
reason.
If I
am a Perkins Loan borrower,
I will
receive a
6-month
post-deferment grace period
beginning on the
date
I no
longer qualify
for the deferment.
Unless
I
am a Peace Corps
volunteer,
my
deferment
will
be granted
in
increments
of
1 year.
If I
continue
to
be
eligible
for
an Economic Hardship Deferment after 1 year,
I
may reapply, subject
to the
cumulative
maximum.
Interest may capitalize
on my
loans
during or at the
expiration
of my
deferment
or
forbearance,
but
interest
never
capitalizes
on
Perkins
Loans.
I
certify
that:
The
information
I
have provided
on
this
form
is
true
and
correct.
I will
provide additional documentation
to my
loan holder, as required,
to
support
my
deferment
eligibility.
I will notify my
loan holder immediately when
my eligibility for the
deferment
ends.
I
have read, understand, and meet
the eligibility
requirements
in
Section
2.
I
authorize
the entity to
which
I
submit this request and
its
agents
to
contact me regarding
my
request
or my
loans
at any
cellular telephone number
that I
provide
now or in the future
using automated telephone
dialing
equipment
or
artificial
or
prerecorded voice
or text messages.
Borrower's
Signature
Date
SECTION 4: INSTRUCTIONS FOR COMPLETING THE DEFERMENT
REQUEST
Type
or print
using dark ink. Enter dates as
month-day-year (mm-dd-yyyy).
Example: March 14, 2015
=
03-14-2015.
Include
your name and account number
on
any documentation
that
you are required
to
submit
with
this form.
If
you
want to apply
for
a deferment
on
loans
that
are
held by different
loan holders, you must submit a separate deferment request
to
each
loan
holder.
Return
the
completed form and any required documentation
to the
address shown in Section
6.
SECTION 5:
DEFINITIONS
Capitalization
is
the addition of
unpaid interest
to
the
principal balance
of
your loan. Capitalization causes
more interest
to
accrue over
the life of
your loan
and
may cause your
monthly
payment
amount to increase.
Interest never capitalizes
on
Perkins Loans. Table
1
(below) provides an example
of the monthly payments
and
the total amount
repaid
for
a $30,000
unsubsidized
loan.
The example loan has a 6% interest rate and
the example
deferment
or
forbearance lasts
for
12 months and
begins
when
the
loan entered repayment. The example
compares
the
effects
of
paying
the
interest as
it
accrues
or allowing it
to
capitalize.
Page
3 of 4
SECTION 5: DEFINITIONS
(CONTINUED)
A
deferment
is a period
during
which you
are
entitled to
postpone repayment
of
your loans. Interest
is
not
generally charged
to
you
during
a deferment
on
your subsidized loans. Interest is always charged
to you
during
a deferment
on
your unsubsidized loans.
On
loans made under
the
Perkins Loan Program,
all
deferments are
followed by
a post-deferment
grace
period
of
6 months,
during
which
time
you are
not
required
to
make
payments.
Family size
includes
(1)
you,
(2)
your spouse,
(3)
your children
if they
receive more
than
half
of their
support
from
you,
including unborn
children
who
will
be
born during the
deferment period, and
(4)
other
people if,
at the time
you request this deferment,
they
live
with
you, receive more
than
half
their
support
from
you, and
will
continue
to
receive this support
from you
for the
deferment period. Support includes money,
gifts,
loans, housing, food, clothes, car, medical and
dental
care, and payment
of
college
costs.
The
Federal Family Education Loan
(FFEL)
Program
includes Federal Stafford Loans, Federal PLUS
Loans, Federal
Consolidation
Loans, and
Federal
Supplemental Loans
for
Students (SLS).
The
Federal Perkins Loan (Perkins Loan)
Program
includes Federal Perkins Loans, National Direct
Student
Loans (NDSL),
and National Defense Student
Loans
(Defense
Loans).
Full-time employment
means
working at
least 30
hours
per week
in
a
position
expected
to
last
at
least 3
consecutive
months.
The
holder
of
your Direct Loans is
the
Department.
The
holder
of
your FFEL
Program loans may be a lender,
guaranty
agency, secondary market,
or the
Department. The holder
of
your Perkins Loans is an
institution of
higher education
or the
Department. Your loan holder may use a servicer
to handle
billing
and
other
communications related
to
your
loans.
References
to
“your loan
holder” on
this
form
mean
either
your loan holder
or
your
servicer.
A
subsidized loan
is a Direct Subsidized Loan, a
Direct
Subsidized Consolidation Loan, a Federal Subsidized
Stafford
Loan, portions
of
some Federal Consolidation
Loans,
Federal
Perkins Loans, NDSL, and Defense
Loans.
An
unsubsidized loan
is a Direct Unsubsidized Loan,
a
Direct Unsubsidized Consolidation Loan, a Direct
PLUS Loan,
a
Federal Unsubsidized Stafford Loan, a Federal
PLUS Loan,
a
Federal
SLS,
and portions
of
some Federal
Consolidation
Loans.
The
William D. Ford Federal Direct Loan (Direct
Loan)
Program
includes Federal Direct Stafford/Ford
(Direct
Subsidized) Loans, Federal Direct Unsubsidized
Stafford/Ford
(Direct Unsubsidized) Loans, Federal Direct
PLUS (Direct PLUS)
Loans,
and Federal Direct Consolidation (Direct
Consolidation)
Loans.
Table
1.
Capitalization
Chart
Treatment
of
Interest
with
Deferment/Forbearance
Loan
Amt.
Capitalized
Interest
Outstanding
Principal
Monthly
Payment
Number
of
Payments
Total
Repaid
Interest is
paid
$30,000
$0
$30,000
$333
120
$41,767
Interest is capitalized
at the
end
$30,000
$1,800
$31,800
$353
120
$42,365
Interest is
capitalized
quarterly and
at the end
$30,000
$1,841
$31,841
$354
120
$42,420
Table
2. 150% of the
Poverty Guidelines for
2018 (Monthly)
Family
Size
Alaska
Hawaii
All
Others
1
$1,897.50
$1,745.00
$1,517.50
2
$2,572.50
$2,366.25
$2,057.50
3
$3,247.50
$2,987.50
$2,597.50
4
$3,922.50
$3,608.75
$3,137.50
5
$4,597.50
$4,230.00
$3,677.50
6
$5,272.50
$4,851.25
$4,217.50
7
$5,947.50
$5,472.50
$4,757.50
8
$6,622.50
$6,093.75
$5,297.50
Each
add'l
person,
add
$675.00
$621.25
$540.00
If
you
do not
live
in the
United States, use
the
poverty guideline
amount in the
column labeled "All
Others".
Page
4 of 4
SECTION 6: WHERE TO SEND THE COMPLETED DEFERMENT
REQUEST
Return
the
completed
form
and any documentation
to:
(If
no
address is shown,
return to
your loan
holder.)
If
you need
help
completing this form,
call:
(If
no
phone number is shown, call your loan
holder.)
SECTION 7: IMPORTANT
NOTICES
Privacy Act Notice.
The Privacy Act
of
1974 (5 U.S.C.
552a)
requires
that the following
notice be provided
to you:
The authorities
for
collecting
the
requested
information
from
and
about
you are §421
et
seq., §451
et
seq.,
or
§461
of
the
Higher Education Act
of
1965, as amended (20
U.S.C.
1071
et
seq., 20 U.S.C. 1087a
et
seq.,
or
20 U.S.C. 1087aa
et
seq.)
and
the
authorities
for
collecting and using your Social
Security
Number
(SSN)
are §§428B(f) and 484(a)(4)
of the
HEA
(20
U.S.C.
1078-2(f) and 1091(a)(4)) and 31
U.S.C.
7701(b).
Participating
in the
William D. Ford Federal Direct Loan
(Direct
Loan) Program, Federal Family Education Loan (FFEL)
Program,
or
Federal Perkins Loan (Perkins Loan) Program
and
giving
us your SSN
are voluntary,
but
you must provide
the
requested information,
including
your SSN,
to participate.
The principal purposes
for
collecting
the
information
on
this form,
including
your SSN, are
to
verify your
identity,
to
determine your
eligibility to
receive a loan
or
a
benefit on a
loan (such
as a
deferment, forbearance, discharge,
or
forgiveness) under
the
Direct Loan,
FFEL,
or
Federal
Perkins
Loan Programs,
to permit the
servicing
of
your loans, and,
if
it
becomes necessary,
to
locate you and
to
collect and
report on
your loans
if
your loans become delinquent
or
default. We
also
use your SSN as
an account
identifier
and
to permit
you
to
access
your account information
electronically.
The
information
in
your
file
may be disclosed,
on
a
case-
by-case basis
or
under a computer matching program,
to
third
parties as
authorized under
routine
uses
in the appropriate
systems
of
records notices. The
routine
uses
of this
information include,
but
are
not limited to, its
disclosure
to
federal, state,
or
local agencies,
to
private parties such as
relatives, present and former employers, business
and
personal
associates,
to
consumer
reporting
agencies,
to
financial and educational institutions, and
to guaranty
agencies
in
order
to
verify your
identity, to
determine
your
eligibility to
receive a loan
or
a
benefit on
a loan,
to permit the
servicing
or
collection
of
your loans,
to
enforce
the
terms of
the
loans,
to
investigate possible fraud and
to verify
compliance
with
federal student financial aid
program
regulations,
or to
locate you
if
you become delinquent
in your
loan payments
or if
you default. To provide default
rate
calculations, disclosures may be made
to
guaranty
agencies,
to
financial and educational institutions,
or to
state agencies.
To provide financial aid history information, disclosures
may
be made
to
educational
institutions.
To assist
program administrators
with
tracking
refunds
and cancellations, disclosures may be made
to guaranty
agencies,
to
financial and educational institutions,
or
to
federal
or
state agencies. To provide a standardized
method
for
educational institutions
to
efficiently submit
student
enrollment
statuses, disclosures may be made
to guaranty
agencies
or to
financial and educational institutions.
To
counsel you
in
repayment efforts, disclosures may be
made
to
guaranty agencies,
to
financial and
educational
institutions,
or to
federal, state,
or
local
agencies.
In the
event
of litigation,
we may send records
to the
Department
of
Justice, a court, adjudicative body,
counsel,
party,
or
witness
if the
disclosure is relevant and
necessary
to the litigation. If
this information, either alone
or
with
other
information, indicates a
potential violation of
law,
we
may send
it to the
appropriate
authority for
action. We
may
send information
to
members
of
Congress
if
you ask
them
to
help
you
with
federal student aid questions.
In
circumstances
involving
employment
complaints,
grievances,
or
disciplinary actions, we may disclose
relevant
records
to
adjudicate
or
investigate
the
issues.
If provided
for by
a collective bargaining agreement, we may
disclose
records
to
a labor organization recognized under 5 U.S.C.
Chapter 71. Disclosures may be made
to our
contractors
for
the
purpose
of
performing any programmatic
function that
requires disclosure
of
records. Before making any
such
disclosure, we
will
require
the
contractor
to
maintain Privacy
Act safeguards. Disclosures may also be made
to qualified
researchers under Privacy Act
safeguards.
Paperwork Reduction Notice.
According
to the
Paperwork Reduction Act
of
1995,
no
persons are
required
to
respond
to
a collection
of
information
unless
such
collection displays a valid OMB
control
number. The
valid
OMB
control
number
for
this information collection
is
1845-0011. Public
reporting
burden
for
this collection
of
information
is estimated
to
average 10 minutes
per
response,
including time for
reviewing
instructions,
searching existing data sources, gathering and
maintaining
the
data needed, and completing and reviewing
the
collection
of
information. The
obligation to
respond
to this
collection is required
to obtain
a
benefit in
accordance
with
34 CFR
674.34, 674.35, 674.36, 674.37, 682.210,
or
685.204.
If
you have comments
or
concerns regarding
the
status of
your
individual
submission
of
this form, please contact
your
loan holder directly (see Section
6).