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Under certain circumstances, borrowers have the right to postpone their payments - this benefit is called a Deferment.

You must qualify for the Deferment. If you qualify for a Deferment and submit a complete and timely request, the lender is required to grant it*.

Deferments are granted for the following 6 reasons**:
  • In-School - Returning to school half-time or more to an approved school.
  • Economic Hardship - Experiencing a difficulty making payments due to a financial hardship.
  • Unemployment - Unemployed or Underemployed.
  • Rehabilitation Training - Undergoing Rehabilitation Training at an approved facility.
  • Graduate Fellowship - Participating in an approved Graduate Fellowship program.
  • Military Deferment - Eligible to borrowers that are members of the National Guard or Armed Forces Reserves and enrolled at least half time during, or up to six months prior to being called or ordered to active duty (some restrictions apply)Military Service Deferment -Active duty military or qualifying National Guard personnel serving on or after October 1, 2007, during a war or other military operation or national emergency.

During the Deferment period, interest will continue to accrue on the Unsubsidized portion of the loans. Any Subsidized portion will be subsidized by the Government and interest will not accrue.


If you do not qualify for a Deferment, but are experiencing a difficulty in making your payments, the lender may grant you Forbearance to allow you to make reduced or no payments at all for a limited time. Once you apply for the Forbearance, with the exception of Mandatory and Mandatory Administrative Forbearances, it is up to the lender to determine whether the Forbearance will be approved or not.

During the Forbearance period, interest will continue to accrue on the loan, regardless of whether it is subsidized or unsubsidized.

All Deferment and Forbearance requests for Goal Financial are processed by your designated loan servicer. Please refer to your most recent billing statement or coupon book for more information, or you may contact Goal Financial directly at 866-290-4222 for additional guidance.

NOTE: It is advised for borrowers to continue to make payments on their loans until verification is received that the Deferment or Forbearance has been approved to avoid possible delinquency or negative credit-reporting.

* Please contact your servicer for forms/documentation.

** Only applies to ?new? borrowers on or after July 1, 1993. Please contact your loan servicer or Goal Financial if any of your eligible loans were first disbursed prior to July 1, 1993, or if you had eligible loans outstanding that were first disbursed prior to July 1, 1993 when any of your existing eligible loans were originated.


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