Economic Hardship Deferment or Forbearance form - Boston College by jianghongl


									request for economic hardship deferment or forbearance
of perkins loan

Borrower’s Name                                             BC Eagle ID Number or the last 4 digits of Social Security Number

Home Address

City                                  State               Zip                       Telephone Number

Job Title                                                                           Email Address

Company Name

Company Address

City                                  State               Zip                       Telephone Number

    I am requesting economic hardship deferment of my Perkins loan(s) repayments, beginning ____________ and

    ending ____________. I waive any unexpired portion of my original grace period.

    I will be able to resume regular payments on _________________________________.

    Please check the appropriate reason for deferment request:

    To qualify for an Economic Hardship Deferment of a Federal Perkins Loan, the borrower must meet one of the following
    conditions and attach the necessary documentation for that particular condition.

        o   I, the borrower, have been granted an economic hardship on my Stafford Loan(s) for the same period of time for
            which I am requesting the deferment of my Federal Perkins Loans. Attach Stafford Loan approval letter.

        o   I, the borrower, am receiving federal or state public assistance, such as Temporary Aid to Needy Families,
            Supplemental Social Security Income, Food Stamps, or state general public assistance. Attach documentation of
            assistance received or copy of government approval for the particular form of assistance.

        o   I, the borrower, am working full time (minimum 30 hours per week in a position that will last at leas 3 months),
            and my total monthly gross income is less than or equal to $1,135.33. Attach income documentation such as
            current pay stubs or W2 and documentation of total monthly gross income from all sources.
            Number of dependents: ____________.

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    Please check the appropriate reason for forbearance request:

    To qualify for a Forbearance of a Federal Perkins Loan, the borrower must meet one of the following conditions and attach
    the necessary documentation for that particular condition.

      o     Does your Federal Student Loan monthly payment comprise 20% of your monthly gross income? If so, please
            attach documentation of bills and monthly income.

      o     Member of a tax exempt organization such as National Service Trust. Attach documentation confirming your
            affiliation with such a group.

      o     Poor health/prolonged illness, starting _______________ and ending _______________. Attach an explanation of
            how your health affects your ability to pay this loan. Provide a physician statement of diagnosis and submit it
            with this application.

      o     Other reasons. Attach a description of the condition(s) that affect(s) your ability to pay this loan, as well as
            documentation to support your claim.

    If you do not meet the criteria for an Economic Hardship deferment, you may qualify for Forbearance.

    My reason(s) for economic hardship is/are: __________________________________________________________________



    If Forbearance is granted, at that time I would like to request:

      o     Postponement of principal and interest repayments. All interest accrued during forbearance period will
            be due with the next scheduled installment.

      o     Postponement of principal only. I will continue to pay monthly interest payments.

    Requests for Economic Hardship or Forbearance without the required documentation will be denied.

    I understand that economic hardship deferments or forbearance may be granted for up to one year at a time at the

    discretion of the Student Loan Office.

    This information is being requested to determine your eligibility for deferment or forbearance. It will remain confidential;
    however, the Office of Student Services reserves the right to use this information if collection efforts become necessary.
    A credit bureau report may be ordered to verify the information provided.

    Borrower’s Signature                                                    Date

    Mail or fax forms to:      Boston College Office of Student Services                Phone: 800-294-0294

                               140 Commonwealth Avenue, Lyons Hall                      Fax: 617-552-4889
                               Chestnut Hill, MA 02467
                               Attn: Beverly Largent

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