Student Loan Consolidation Services
Student loan consolidation services provide a wide variety of servicing functions for borrowers. A big part of the services include deferment programs that help alleviate the hardship associated with repayment based on different seniors. The following is a list of deferment student loan consolidation services offered to borrowers who qualify.Economic Hardship –Borrowers who earn less than minimum wage or exceed the federally established debt-to-income ratio, there is the economic hardship deferment. Individuals who qualify for public assistance or are serving in the Peace Corps also qualify for this deferment.
Graduate Fellowship – Student loan consolidation services provide eligible graduate students a deferment option.
In-School Deferment – Part time and full time students studying at eligible schools can request a deferment.
Internship/Residency – Individuals enrolled in a qualifying internship or residency program can apply for a deferment. This program also covers borrowers in a medical training program that leads to a degree or certificate award by their institution, hospital, or health care facility.
Parental Leave – Borrowers can request a deferment if the individual is pregnant or caring for a newborn or newly adopted child.
Temporary Total Disability – If a borrower experiences temporary total disability or is unable to secure a job because they are caring for a dependent or spouse who is disabled, they can apply for a deferment. Borrowers who experience permanent disability should inquire about the cancellation of their loan.
Unemployment – Individuals who are seeking work, but are not employed full time can apply for a deferment. The borrower can receive unemployment benefits and qualify for a deferment.
Teacher Shortage Area – Teachers who work full time in a public or non-profit elementary school or secondary school may be able to qualify for a deferment if the are they work in is experiencing a teacher shortage.
Additional information on student loan consolidation services and deferment programs can be found by visiting sites such as college-loans.net. Deferments available to you depend on the type of consolidation loan you have and your lender.