Hello All,
I have been searching high and low to find out how to qualify for a deferment, but I just keep seeing the same info over and over. I see general descriptions, but I want to see how to qualify for financial hardship reasons and I am not unemployed.
Here is my situation:
Federal Subsidized Stafford Loan $16,275 6.8%
Federal Unsubsidized Stafford Loan $10,789 6.8%
Total Principle: $27,064
Out of School. Grace period ends 9/2/12
Income: $55k/year
Spouse has defaulted student loans about $75k
Last year’s adjusted AGI on our joint tax return: $54,944 ( all income was mine )
I am looking for a deferment because I have excessive debt. Credit cards, husband’s medical bills, house in foreclosure. If you look at my current debt to income, it is obvious I can’t make the bills that I have now. My first payment will not be due until next month.
Can anyone offer any assistance on how I can get a deferment in my situation? The internet is full of general guidelines, of which it seems I don't qualify; however, I have found some short blurbs saying that I may qualify for deferment if I have an excessive debt to income ratio. Does anyone know about this, or have any advice on how to qualify for deferment this way?
I would like to get as much info as I can before I call my servicer for options so I know if they are really doing everything they can to assist me.
Thanks
