Loan Deferment

[torchdoc]

What's the current state of loan deferment during residency? I know last Sept/Oct people were talking about the loss of the 20/200 rule that allows residents to defer loan repayment through 3 years of residency. Was the 20/200 re-instated by Congress? Any updates would be greatly appreciated.

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[Rogue_Leader]

From what I heard from our financial aid people a few weeks ago, the hardship deferment was still on its way out and still slated to end in the summer of 2009. At that point the debt/income ratio qualification will end and it will become a straight income requirement, which will be some percentage of poverty level (150 or 200%, something like that), which most residents will clear handily. We can at least get one year of deferment. After that we can still use our guaranteed three years of forbearance.

 

[Hernandez]

it's still gone, however, since they left no rules on how to deal with people in situations such as residents, they are currently still following the 20/220 rule. however, the new one set to replace it in 2009 is some sort of graduated payment plan.

you'd be best to ask the finance/financial aid forums if you want a better answer than that.