MGSLP Logo

Providing access to higher education

Unemployment Deferment

Are you working less than 30 hours per week? Are you looking for full-time employment? Are you registered with a job service or receiving unemployment benefits? If you can answer yes to all of these questions you qualify for an Unemployment deferment.

Unemployment deferments are typically granted in 6-month increments. Maximum unemployment deferment time allowed:
  • 2 years for borrowers with outstanding loans received prior to July 1, 1993
  • 3 years for borrower with all of their outstanding loans received after July 1, 1993
To receive an unemployment deferment you must complete an Unemployement Deferment form and submit it to your lender(s). Some lenders may allow you to submit these forms electronically, check with your lender(s) for this option.

If you need assistance with yourdeferment, call our Default Prevention Counselors at (877) 293-8946 or email us.