Under certain circumstances, repayment of your loan may be deferred. It is your
responsibility to contact the LBCC Loan Specialist at (541) 917-4301 to obtain the appropriate
deferment request forms. You may also download the forms from our billing servicer's website.
Go to: ACS, Inc. Education Services
You will be required to provide supporting documentation to prove your eligibility.
Definitions
Student Deferment: A student deferment may be granted to students who are (1) registered at least half-time at an elligible institution of higher education (2) in graduate fellowship program approved by the Department (3) enrolled and attending a rehabilitation training program for disabled individuals approved by the United States Department of Education (4) enrolled and attending a graduate or post graduate fellowship outside the US. This deferment is followed by a nine-month interest free grace period. A six-month grace period will be applied for students who are returning to school and have used up their initial nine-month grace period.
Student deferments may granted without your written consent when enrollment information is provided through the National Student Loan Clearinghouse; however, not all schools participate. You will be notified of the deferment and you will have the option to decline it.
Military Service: Effective July 1, 2001, a borrower who is serving on active duty during a war or other military operation or national emergency may be eligible to defer payments. This includes borrowers who or performing qualifying National Guard duty during a war or other military operation or national emergency.
Peace Corps or VISTA Volunteer: Borrowers who are serving not less than 1 year are entitled to a economic hardship based on based on services as a Peace Corps volunteer not to exceed the lesser of 3 years or my remaining period of economic hardship eligibility.
Economic Hardship: Payments may be deferred up to one year at a time for borrowers who are experiencing a period of economic hardship. Documentation is required to establish eligibility. A six-month post deferment grace period follows the deferment.
Unemployment: Borrowers who are seeking and unable to find full-time employment. This deferment is not to exceed three years cumulatively. A six-month post deferment grace period follows the deferment.
Pre-cancellation: A borrower is entitled to a pre-cancellation deferment if they are employed full-time in a qualifying service. Upon completion of 12 months of service, a borrower may request a portion of their loan be cancelled. The borrower is entitled to a six-month post derferment grace period.
Forbearance: Forbearance means the temporary cessation of payments, allowing an extension of time for making payments, or temporarily accepting smaller payments than previously were scheduled. A forbearance may be granted under certain conditions and upon receipt of a written request and supporting documentation for up to twelve months for periods that collectively do not exceed three years. Interest continues to accrue.
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