School deferment FAQs
Why did I receive a School Deferment approval letter when I did not request the deferment?
How many credits is considered half-time enrollment?
The School Deferment end date on my approval letter doesn’t match the date I anticipate graduating, why?
Will my school report to VSAC when I am no longer enrolled at least half time?
I am enrolled at least half time but still receiving bills, why?
Do I have to make payments while I wait for my school to report my enrollment to VSAC?
All types of Deferments FAQs
Is a deferment the same as a forbearance?
I have been approved for a deferment but I don’t want it. Can I cancel it?
Am I responsible for interest on the subsidized portions of my loans while in a deferment?
Am I responsible for interest on the unsubsidized portions of my loans while in a deferment?
Can I make payments while in a deferment?
What is the best way to monitor my account or make payments while in deferment?
I can’t keep up with my payments, how do I get a deferment?
How is a deferment reflected on my credit report?
How many times can I use deferments?
Q: Why did I receive a School Deferment approval letter when I did not request the deferment?
A: Your school reported to VSAC that you are enrolled at least half-time. Based on that information VSAC automatically posted the School Deferment.
Q: How many credits is considered half-time enrollment?
A: Each school makes their own determination. Please contact your school for more information.
Q: The School Deferment end date on my approval letter doesn’t match the date I anticipate graduating, why?
A: Schools report enrollment information periodically and should continue to report updated enrollment throughout your enrollment period. VSAC will send you a letter when we update your School Deferment based on the school’s reporting.
Q: Will my school report to VSAC when I am no longer enrolled at least half time?
A: Yes, however there may be a delay, so it is important to contact VSAC once you are enrolled less than half time or leave school.
Q: I am enrolled at least half time but still receiving bills, why?
A: VSAC has not yet received information to show you are enrolled at least half time. Schools report enrollment information automatically about 45 days into the semester.
Q: Do I have to make payments while I wait for my school to report my enrollment to VSAC?
A: You can either make payments or contact VSAC to make other arrangements.
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Q: Is a deferment the same as a forbearance?
A: Deferments are for federal education loans only and may have benefits that a forbearance does not. To qualify for a deferment, and some types of forbearances, you must meet specific criteria.
Q: I have been approved for a deferment but I don’t want it. Can I cancel it?
A: Yes, you can cancel the deferment any time by contacting VSAC.
Q: Am I responsible for interest on the subsidized portions of my loans while in a deferment?
A: No, the government pays the interest on subsidized loans while in a deferment.
Q: Am I responsible for interest on the unsubsidized portions of my loans while in a deferment?
A: Yes, interest continues to accrue during a deferment and any outstanding interest at the end will be added to your principal balance.
Q: Can I make payments while in a deferment?
A: Yes, you can pay any amount at any time. VSAC will not bill you for payments while you are in a deferment.
Q: What is the best way to monitor my account or make payments while in deferment?
A: You can register for myVSAC and view account information as well as make online payments.
Q: I can’t keep up with my payments, how do I get a deferment?
A: The best way to determine if you are eligible for a deferment is to contact VSAC. We can help you determine what option is appropriate for your situation.
Q: How is a deferment reflected on my credit report?
A: Your credit report will show you are not due for payments after your deferment is approved by VSAC.
Q: How many times can I use deferments?
A: Some deferments have a limited number of years of eligibility and others do not. For more information please contact VSAC.
