Can you defer your student loans if you're attending a community college?

I'm planning to attend a community college and I'm concerned about managing student loans. Is it possible to defer loan payments while enrolled in community college, and what are the conditions required for deferment?

Yes, you can defer your student loans while you're enrolled at least half-time in an eligible community college. This is known as an in-school deferment. As long as your school is an eligible institution under federal student aid programs, which most community colleges are, you should be eligible. The Department of Education recognizes that you may not be able to make student loan payments while pursuing your education, so this deferment option is commonly utilized.

It's worth noting that your interest will continue to accrue during the deferment period if you have unsubsidized loans. On the other hand, if you have subsidized loans, the government will pay your interest during deferment.

To apply for an in-school deferment, you can contact your loan servicer. Commonly, you'll need to fill out a deferment request form and provide documentation of your enrollment.

Keep in mind that students should always be mindful when considering deferment. While it can provide short-term relief, accrued interest can increase the total amount you have to repay in the long run. As always, it's important to consider your unique financial situation and seek advice from trusted financial advisors if needed.