Forbearance and Deferment

 In certain circumstances, borrowers may be eligible to receive a deferment or forbearance on their federal student loans, which will allow them to temporarily stop making payments or reduce their monthly payments in order to help avoid default.  

Borrowers will need to apply for a forbearance or deferment through their service providers and should continue making payments on their loans until approved.

The main difference in a deferment vs. forbearance is that with a deferment, the borrower may not be responsible for paying the accrued interest on certain types of loans during the deferment period.