How to Defer Student Loans with Mohela: A Comprehensive Guide to Managing Your Loan Payments

#### How to Defer Student Loans MohelaIf you're struggling to make your student loan payments, you might be considering deferment as a viable option. Deferm……

#### How to Defer Student Loans Mohela

If you're struggling to make your student loan payments, you might be considering deferment as a viable option. Deferment allows you to temporarily postpone your loan payments without falling behind. In this guide, we will explore how to defer student loans with Mohela, one of the leading student loan servicers in the United States.

#### Understanding Deferment

Deferment is a period during which you are not required to make payments on your federal student loans. During this time, interest may or may not accrue, depending on the type of loan you have. For subsidized federal loans, the government pays the interest during the deferment period. However, for unsubsidized loans, you will be responsible for the interest that accrues.

#### Eligibility for Deferment

To qualify for deferment with Mohela, you must meet certain eligibility criteria. Common reasons for deferment include:

- **Enrolled in School**: If you are enrolled at least half-time in an eligible college or university, you can defer your loans.

- **Economic Hardship**: If you are facing financial difficulties, you may qualify for economic hardship deferment.

- **Unemployment**: If you are unemployed and actively seeking work, you can apply for deferment.

- **Military Service**: Members of the military and those on active duty may also qualify for deferment.

#### How to Apply for Deferment with Mohela

Applying for deferment with Mohela is a straightforward process. Here are the steps you need to follow:

1. **Gather Required Information**: Before you start the application process, gather all necessary documents, including your loan information, proof of enrollment (if applicable), and any documentation supporting your claim for economic hardship or unemployment.

2. **Visit the Mohela Website**: Go to the Mohela website and log in to your account. If you don’t have an account, you will need to create one.

3. **Find the Deferment Application**: Once logged in, navigate to the section for deferment applications. Mohela provides clear instructions on how to apply.

4. **Complete the Application**: Fill out the deferment application form, providing all required information. Be honest and thorough in your responses.

5. **Submit Your Application**: After completing the application, review it for accuracy and submit it. You may receive confirmation of your application submission via email.

6. **Await a Decision**: Mohela will review your application and notify you of their decision. If approved, you will receive information about the deferment period and any conditions that apply.

#### What to Expect During Deferment

Once your deferment is approved, you will not need to make payments for the duration of the deferment period. However, it’s essential to keep track of when your deferment ends, as you will be responsible for resuming payments afterward. Additionally, if you have unsubsidized loans, you should be aware that interest will continue to accrue during the deferment period, which may increase your total loan balance.

#### Conclusion

Deferment can be a helpful option for borrowers facing financial challenges. By understanding how to defer student loans with Mohela, you can take proactive steps to manage your student loan payments and reduce financial stress. If you have further questions or need assistance, don’t hesitate to reach out to Mohela’s customer service for guidance. Remember, taking action early can help you maintain your financial stability and avoid defaulting on your loans.