Can I defer or forbear my federal student loan payments?

Yes, it is possible to defer or forbear federal student loan payments. Deferment allows borrowers to temporarily stop making payments for a specific period without accruing interest on certain types of loans. Common deferment qualifications include being enrolled in school at least half-time, experiencing economic hardship, or serving in the military. Forbearance, on the other hand, allows borrowers to temporarily reduce or pause their loan payments due to financial difficulties. However, interest generally continues to accrue during forbearance. Both deferment and forbearance options are subject to certain eligibility criteria and application processes. It is always important to contact the loan servicer or the Department of Education for specific details and to explore other available alternatives, such as income-driven repayment plans.