Unemployment Deferment Request Page 3
Download a blank fillable Unemployment Deferment Request in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Unemployment Deferment Request with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4SECTION 5: DEFINITIONS
Capitalization is the addition of unpaid interest to the
The holder of your Direct Loans is the Department. The
principal balance of your loan. Capitalization causes more
holder of your FFEL Program loans may be a lender,
interest to accrue over the life of your loan and may cause
guaranty agency, secondary market, or the Department. The
your monthly payment amount to increase. Interest never
holder of your Perkins Loans is an institution of higher
capitalizes on Perkins Loans. Table 1 (below) provides an
education or the Department. Your loan holder may use a
example of the monthly payments and the total amount
servicer to handle billing and other communications related
repaid for a $30,000 unsubsidized loan. The example loan
to your loans. References to “your loan holder” on this form
has a 6% interest rate and the example deferment or
mean either your loan holder or your servicer.
forbearance lasts for 12 months and begins when the loan
A subsidized loan is a Direct Subsidized Loan, a Direct
entered repayment. The example compares the effects of
Subsidized Consolidation Loan, a Federal Subsidized
paying the interest as it accrues or allowing it to capitalize.
Stafford Loan, portions of some Federal Consolidation
A deferment is a period during which you are entitled
Loans, Federal Perkins Loans, NDSL, and Defense Loans.
to postpone repayment of your loans. Interest is not
An unsubsidized loan is a Direct Unsubsidized Loan, a
generally charged to you during a deferment on your
Direct Unsubsidized Consolidation Loan, a Direct PLUS
subsidized loans. Interest is always charged to you during a
Loan, a Federal Unsubsidized Stafford Loan, a Federal PLUS
deferment on your unsubsidized loans. On loans made
Loan, a Federal SLS, and portions of some Federal
under the Perkins Loan Program, all deferments are
Consolidation Loans.
followed by a post-deferment grace period of 6 months,
The United States, for the purpose of this deferment,
during which time you are not required to make payments.
includes any state of the Union, the District of Columbia, the
The Federal Family Education Loan (FFEL) Program
Commonwealth of Puerto Rico, American Samoa, Guam, the
includes Federal Stafford Loans, Federal PLUS Loans, Federal
Virgin Islands, the Commonwealth of the Northern Mariana
Consolidation Loans, and Federal Supplemental Loans for
Islands, the Freely Associated States (the Republic of the
Students (SLS).
Marshall Islands, the Federated States of Micronesia, and the
The Federal Perkins Loan (Perkins Loan) Program
Republic of Palau), and U.S. military bases and embassy
includes Federal Perkins Loans, National Direct Student
compounds in foreign countries.
Loans (NDSL), and National Defense Student Loans (Defense
The William D. Ford Federal Direct Loan (Direct Loan)
Loans).
Program includes Federal Direct Stafford/Ford (Direct
Full-time employment is defined as working at least 30
Subsidized) Loans, Federal Direct Unsubsidized Stafford/
hours per week in a position expected to last at least 3
Ford (Direct Unsubsidized) Loans, Federal Direct PLUS
consecutive months.
(Direct PLUS) Loans, and Federal Direct Consolidation
(Direct Consolidation) Loans.
Table 1. Capitalization Chart
Treatment of Interest with
Capitalized
Outstanding
Monthly
Number of
Loan Amt.
Total Repaid
Deferment/Forbearance
Interest
Principal
Payment
Payments
Interest is paid
$30,000
$0
$30,000
$333
120
$41,767
Interest is capitalized at the
$30,000
$1,800
$31,800
$353
120
$42,365
end
Interest is capitalized
$30,000
$1,841
$31,841
$354
120
$42,420
quarterly and at the end
SECTION 6: WHERE TO SEND THE COMPLETED DEFERMENT REQUEST
Return the completed form and any documentation to:
If you need help completing this form, call:
(If no address is shown, return to your loan holder.)
(If no phone number is shown, call your loan holder.)
Page 3 of 4
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Legal