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I graduated in summer of '06, so my student loans began like 6 months after. I have them through Student Assistance Foundation. I did deferment for a number of years, pretty sure one year was because I was unemployed from spring of '07 to 'spring of '08. I can't remember the number of years I deferred but I think it was 3 total. The other two years were probably economic hardship. I then went on an IBR plan that I have been eligible every year, with $0 monthly payments. The problem is the government will stop making interest payments on the subsidized loan in May. ( i have a 16k subsidized loan and a 2.7k unsubsidized loan through SAF, I think originally Direct loans). This will no doubt amass hefty interest down the road if I keep putting off any payments. Good news is I have no lates. My question is: can I defer at least another year to fight off more interest on the larger, subsidized loan? According to income/family size, I would be eligible easily, but I am not sure if I am eligible since I have deferred previously. Like I said, At least one year of deferment was due to unemployment and the rest I think due to economic hardship. If I can defer, I plan on saving up to make one large payment down the road that will tackle a decent portion of principle.
