PERKINS*, STAFFORD AND SLS LOANS PLUS LOANS CONSOLIDATION LOANS
Deferment Type Pre '87 NB '87 NB '93 Pre '87 NB '87 NB '93 Pre '87 NB'93
In school full-time
In school at least half-time		 Yes (1) Yes (1)
Yes (1)		 Yes (1)
Yes (1)		 Yes (2)
Yes (3)		 Yes (2)
Yes (4)		 Yes (5)
Yes (5)		 Yes (1)
Yes (1)		 Yes (1)
Yes (1)
Graduate / Fellowship Yes (1)(6) Yes (1)(6) Yes (1) Yes (2) Yes (2) Yes (5) Yes (1) Yes (1)
Internship / Residency Up to 2 Yrs Up to 2 Yrs            
Rehabilitation training Yes (1)(6) Yes (1)(6) Yes (1) Yes (2) Yes (2) Yes (5) Yes (1) Yes (1)
Unemployment Up to 2 Yrs (6) Up to 2 Yrs (6) Up to 3 Yrs Up to 2 Yrs Up to 2 Yrs Up to 3 Yrs Up to 2 Yrs Up to 3 Yrs
Service in: Armed Forces, Public Health Service, ACTION, tax-exempt organization volunteer, or Peace Corps Up to 3 Yrs Up to 3 Yrs            
National Oceanic and Atmospheric Administration Corps   Up to 3 Yrs            
Economic hardship     Up to 3 Yrs     Up to 3 Yrs   Up to 3 Yrs
Teacher shortage   Up to 3 Yrs (6)            
Disability: Borrower / Spouse / Dependent Up to 3 Yrs Up to 3 Yrs   Up to 3 Yrs Up to 3 Yrs   Up to 3 Yrs  
Parental leave for pregnancy, newborn or adopted child Up to 6 Mos (6) Up to 6 Mos            
Mother of preschool child   Up to 1 Yr            
Hardship Up to 3 Yrs Up to 3 Yrs            
Forbearance     Up to 3 Yrs          


(1) No time limit. KEY TERMS

Pre '87 -- A borrower with an outstanding FFELP loan received prior to 7/1/87.
NB '87 -- New Borrower '87 -- A borrower who, on the day he or she signs the promissory note, has no outstanding balance on:
1. Stafford, PLUS or SLS loans disbursed prior to 7/1/87, or
2. a Federal Consolidation loan that repaid a loan disbursed prior to 7/1/87.
NB '93 -- New Borrower '93 -- A borrower who received a FFELP loan with the disbursement on or after 7/1/93 at which point the borrower had no outstanding FFELp loan balance (includes a borrower who obtained a Consolidation loan on or after 7/1/93, if the loan consolidated all the borrower's outstanding FFELP loans).
Deferment -- A period during which borrowers do not have to make education loan payments because they are involved in an activity specified as eligible for deferment (see chart). For some loans the federal government pays the interest during deferment and, on others, the borrower is responsible for paying interest that accrues. All defermnets must be requested. Tob obtain a deferment, a deferment form must be filed with every loan holder for each loan for which a deferment is requested for every yeat that you are eligible for a deferment.

Stafford Loan Cancellations
Possible for permanently disabled and bankruptcy (in some cases, must prove undue hardship).

   
   
(2) No time limit. Period when either the parent borrower or dependent student for whom the parent obtained the loan meets the eligiblity requirements.
(3) No time limit. Period when the dependent student, who must be a "NB 87" borrower, has obtained a Stafford loan.
(4) No time limit. Period when either the parent borrower enrolls on at least half-time bases and obtains a Stafford loan for that period of enrollment, or when a dependent student for whom the parent has obtained the PLUS loan enrolls on at least a half-time basis and obtains a Stafford loan for that period of enrollment.
(5) No time limit. Period during which the parent borrower meets the deferment eligibility requirements.
(6) Does not apply to Perkins.
* Perkins borrowers are eligible for partial loan cancellation if engaged in any of the following activities: Military Combat, Head start, Family Service Agency professional service provider, Nurse or Medical Technician, full-time teacher, special education, law enforcement, teacher of math/science/foreign language, volunteer, disability, bankruptcy - in some cases - must prove undue hardship, death.