PhD/PsyD Postdoc/fellowship deferment

[anibrainiac]

I am sure this question has been asked in the past, but a quick perusal of the forum did not give me a definitive answer so I am asking again. I will be starting my two-year APPCN fellowship this fall and was wondering whether I am eligible to apply for federal student loan deferment. In reading over the list of deferment options, I thought the "Graduate Fellowship" deferment made the most sense. Has anyone successfully applied for this type of deferment or any other type? I've been looking at the following website:

http://studentaid.ed.gov/sa/repay-loans/deferment-forbearance

I plan to make some payments during fellowship even if I am successful in my deferment application. My reasoning would be that any payments I make while on deferment could be targeted toward specific loans (i.e., those with the highest interest) and that this plan would therefore make more sense than starting an income-based repayment plan now and having my payments equally distributed among my loans. However, I have also seen many users advocate for IBR plans while on fellowship. Am I missing something? Thanks in advance for any advice!

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[BuckeyeLove]

yes

 

[AcronymAllergy]

If you're planning on trying for PSLF and can swing the loan payments, it makes sense to go on IBR if your fellowship is at a qualifying employer and you have the appropriate type of loan. The IBR payments would also count toward the general IBR forgiveness that occurs after 25 (?) years, if you make it that far.

If you're planning on paying off your loans, making payments could still make sense to at least help pay down accumulating interest and hopefully some principle.

 

[anibrainiac]

yes

Excellent, thanks!

 

[anibrainiac]

If you're planning on trying for PSLF and can swing the loan payments, it makes sense to go on IBR if your fellowship is at a qualifying employer and you have the appropriate type of loan. The IBR payments would also count toward the general IBR forgiveness that occurs after 25 (?) years, if you make it that far.

If you're planning on paying off your loans, making payments could still make sense to at least help pay down accumulating interest and hopefully some principle.

Thanks! Truthfully, I'm wary of putting all of my eggs in the PSLF basket given the uncertainty of the program's future, but this is still good to know! Thank you for the advice!

 

[McCartney]

Yes, I just did this. Your postdoc admin person will just need to sign a form (make sure you print/sign/scan, my electronic signature was rejected). Mine was approved quickly with no issues for deferment through the rest of postdoc.