If you have a Private Student Loan with Earnest, you may be eligible for up to 48 months of deferment when you return to school at a Title IV–accredited, not-for-profit program for an undergraduate or graduate degree, or if you are enrolled in an internship, fellowship, or residency program. To qualify, you must be enrolled at least half-time and be the primary borrower returning to school (not the cosigner). Please note that deferment is not currently available for the Peace Corps or similar programs.
To begin, you’ll need to complete and submit a deferment request form, available at the bottom of this article. There are two versions: one for in-school deferment and another for internships, fellowships, and residencies. Be sure to download and fill out the correct form. Once completed, upload the form to your Earnest profile by following these steps:
- Sign in to your Earnest account.
- Click “Documents” from the left-side navigation menu.
- Select “Upload.”
- Drop your file into the box and click "Save Changes" at the bottom. Please note that the maximum file capacity is 50 MB.
Since we are not automatically notified when documents are uploaded, please click the “Get In Touch” button at the bottom of this article to send us a quick email to let us know you've uploaded the document.
Important Details to Keep in Mind
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Depending on the repayment option you selected in your application, your payments during In-School Deferment may be fully deferred, interest-only, or fixed at $25 per month. This same repayment option will also apply during In-School Grace and Residency/Internship Deferment.
- For example, if you selected fixed $25 monthly payments, you will be required to make $25 payments during your In-School Deferment or Residency/Internship Deferment period.
- All deferment requests must be received at least five (5) business days before the date you want your deferment to begin.
- Requests submitted on or before the fifth business day prior to a payment due date will be applied to your current payment.
- Requests submitted starting on the fourth business day before your due date will be filed right away, but the change may or may not apply to your current payment. Please be prepared for the possibility that your Auto Pay will still be withdrawn or your manual payment will remain due.
If you do not hear back from our team within five (5) business days of uploading your form, please reach out immediately by clicking the Get In Touch button at the bottom of this article.