Student Loan Deferment: What Does It Mean?

Loans can be as diverse as the people who take them out. There are many options available that can affect interest rates, the amount you can take out, whether or not you need a co-signer, etc. It’s important to do your research and know your options before committing to anything.

A stack on money with a graduation cap sitting on top.

What it Means to Defer Your Student Loans

Deferring your student loan means that you’ll hold off on repaying it for a certain amount of time—deferring until 6 months after you graduate college is a very common deferment option. The ability to defer a loan is contingent on the loan itself. There can be eligibility requirements attached to it that may prevent deferment, or put additional restrictions on it.

Many students choose to defer their loans until after graduation. They focus on earning their degree and getting a job after graduation. They start to earn money in order to start their post-graduate life and repay their student loans.

Is Deferment Right for You?

Some college students do not opt for student loan deferment, but instead, start repaying right away—most commonly because they’re part-time students who also have a job.

It’s important to talk to your loan service to see if deferment is available and if you qualify for it. Be sure to do thorough research before choosing anything.



Lender Rates (APR) Eligibility
Earnest company logo.
Variable APR: 1.99%* +
Fixed APR: 2.98%* +
Undergraduate and Graduate
Lendkey company logo.
Variable APR: 1.90%* +
Fixed APR: 2.95%* +
Undergraduate, Graduate, Parent PLUS
Credible company logo.
Variable APR: 2.13%* +
Fixed APR: 2.58%* +
Undergraduate and Graduate
Laurel road company logo.
Variable APR: 1.89%* +
Fixed APR: 2.50%* +
Undergraduate and Graduate
Commonbond company logo.
Variable APR: 2.46%* +
Fixed APR: 2.59%* +
Undergraduate, Graduate, Parent PLUS
Fixed APR: 2.74%* +
Undergraduate, Graduate, Parent PLUS
VISIT ISL Education Lending
Variable APR: 1.95%* +
Fixed APR: 2.55%* +
Undergraduate, Graduate, Parent PLUS
VISIT Nelnet
Variable APR: 2.94%* +
Fixed APR: 2.99%* +
Undergraduate and Graduate
VISIT College Ave
Variable APR: 2.39%* +
Fixed APR: 2.58%* +
Undergraduate and Graduate, Parent PLUS

*APR includes a 0.25% interest rate reduction for enrollment in automatic payments.

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