Deferments, Forbearance, and Consolidation You are entitled to defer your student loan payments when applicable criteria are met. Through deferment you can postpone your scheduled student loan payments for various reasons, such as unemployment, economic hardship, and school enrollment. Your lender or servicer determines if you meet the requirements for a deferment. To ensure prompt processing of your deferment, please mail it directly to your lender or servicer. Click here to access the appropriate forms. Forbearance is an option lenders or servicers can offer in which the lender permits the borrower to temporarily cease payments, allows an extension of time for making payments, or temporarily accepts smaller payments than were previously scheduled. Medical or financial problems that do not meet the requirements for a deferment might qualify you for a forbearance. During a forbearance period, the borrower is responsible for paying the interest that accrues on any loan, even a subsidized loan. If a borrower fails to make required interest payments during a forbearance period, the lender may capitalize the unpaid accrued interest. A lender may grant a discretionary forbearance to assist a borrower or endorser in fulfilling the repayment obligations of the loan and to help prevent default. A borrower may request this forbearance by contacting the lender verbally or in writing. Contact your lender to obtain forbearance forms.  Remember that the lender must approve the forbearance request before your payments can be suspended. By consolidating your loans, you might be able to reduce your monthly payments. Your lender or servicer can help you decide if you are eligible and if loan consolidation is the best option for you. You can also get information and download the correct forms from TG Online at www.tgslc.org.