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Student Loans Student Loan Repayment

Student Loan Deferment & Forbearance Calculator

Updated May 02, 2023   |   6-min read
Student Loan information
Student Loan Balance
Avg. Interest Rate (APR)
Loan Term (Years)
Deferment Information
Deferment Length (Months)

Calculator Results

Before Deferment After Deferment Savings
Student Loan Balance
Monthly Payment per month

By deferring a student loan balance of $35,000 with an average interest rate of 6% for a period of 12 months, you will increase your student loan balance by $2, 100. After deferment, your new student loan balance will be $37 and will require a monthly payment of $411 ($23 more per month).

The idea of taking some time off from paying your student loans may sound like a fantasy, but if your loans are through the U.S. Department of Education, you might qualify for forbearance or deferment.

Deferment and forbearance are two repayment plans available to federal student loan borrowers that can help when you’re unable to make payments. It’s important to note that these different flexible repayment options aren’t available with all loans.

Private student loans don’t often have the same protections and flexible repayment programs as federal loans. If you have private loans you’ll have to contact the lender to determine if there are options for deferred payments or hardship programs. 

You can use the Student Loan Deferment and Forbearance Calculator below to see how different scenarios could impact your interest rate and loan terms during repayment.

Student Loan Deferment and Forbearance Calculator Questions

Bottom Line

Getting a forbearance or deferment is not the greatest option; you’ll pay a lot more overall, and you’re not making your loans go away. For those who are in financial hardship, however, it’s a viable idea that can help.

As a final option, a deferment or forbearance can offer some breathing room for a determined amount of time, during which you could finish your advanced degree and get a better job, recover from an illness or injury that’s preventing you from working or finish your commitment to a national service organization.

Contact your servicer to find out more about your options.