You can request a deferment of up to 48 months for a Smart Option Student Loan® or a Sallie Mae graduate student loan so long as you’re enrolled full-time or half-time.
Also know, can Sallie Mae garnish my wages?
Private student loans can’t garnish your wages until they sue you and get a judgment. … They usually don’t sue right away. More commonly, they sue a few years after your last payment. Those are the everyday things that happen when you don’t pay Navient regardless if the loan is federal or private.
Likewise, do I qualify for deferment?
You are eligible for this deferment if you’re enrolled at least half-time at an eligible college or career school. If you’re a graduate or professional student who received a Direct PLUS Loan, you qualify for an additional six months of deferment after you cease to be enrolled at least half-time.
How do I defer my private student loans if I go back to school?
Your lender may put your loans on automatic deferment once you enroll at least half-time in a program. But to be on the safe side—or if you haven’t received a notice that your loans are in deferment, contact your educational institution and let them know that you want your loans to be deferred while you’re in school.
How do I submit a Sallie Mae deferment form?
Please complete the following information, and return all documentation to us via fax: 855-756-0011, mail: Sallie Mae, P.O. Box 3319, Wilmington, DE 19804-4319, or online: log in to your account at SallieMae.com and select the Secure Document upload link located on the Forms page.
What is the difference between deferment and forbearance?
Both allow you to temporarily postpone or reduce your federal student loan payments. The main difference is if you are in deferment, no interest will accrue to your loan balance. If you are in forbearance, interest WILL accrue on your loan balance.