Loan Deferments/Forbearance

Listed below are some frequently asked questions regarding loan deferment and forbearance.

Am I eligible to have my student loans deferred? For how long?

Deferments-Deferments may be granted for specific conditions.
The Internship/Residency Deferment is available to borrowers who received Stafford loans prior to July 1993. Your subsidized loans are interest free during this period.
The Economic Hardship Deferments are granted based on the Economic Hardship Deferment Worksheet. Your lender may have this worksheet, or you can access it, and additional information, here.

Forbearance-If you do not qualify for a deferment, or have used your entire deferment period, you may obtain a forebearance. Medical residents are entitled to a medical residency forbearance during residency and fellowship. This type of forbearance is mandatory-your lender must provide the forbearance if you complete the necessary paperwork and establish that you are currently employed as a medical resident. Your loans will accrue interest for which you are responsible. However, you may be allowed to capitalize the interest and pay it back later as well.

Deferments and Forbearance may only be granted for up to 12 months at a time. Be certain to reapply each year.

What do I need to do to get my loans deferred?

Get the proper form from your lender. You should ask for an Internship/Residency Deferment or an Education Related Deferment form, not an In-school Deferment Form.

Fill out the BORROWER section only. Do not complete any portion of the OFFICIAL CERTIFICATION section.

A) Mark the appropriate reason for deferment (if applicable)

B) Fill out the dates. We can only certify your status for the current contract year.
We cannot certify future dates.

C) Sign the Form

Turn the form into the GME Office. There is a blue wire basket for deferment forms, just inside the door. In most cases, the forms are completed and sent out within 1-2 working days. Please provide a fax number or a stamped, addressed envelope for GME to forward form(s) to your loan company.

You may also send your deferment form to GME (but not before your training begins), at the following address:

Graduate Medical Education
ATTN: Loan Deferments
Building 500 room 4223

13001 E 17th Pl
BOX C-293
AURORA, CO 80045

Certain loan companies require only a certification letter to be completed. In this case, please submit your request via email to Kay Oliver. Make sure you include your loan company's information in your request.

Whom do I contact if I have a problem or question about deferment or forbearance?

You may call the GME office at 303-724-6031 with general questions, or please contact your lender for specifics to your loan or other deferment options. One source for general information is this AAMC website: http://www.aamc.org/programs/medloans/start.htm.