Fisher Special Loan provisions
Under the provisions described here, your loan payments may be deferred, reduced, or even cancelled. If you think you meet any of these conditions, contact our loan office at: (800) 656-2333 or (509) 527-2333
Deferment of Payments
You may defer making payments on your loan if one of the following conditions applies. (Interest will not accrue during the period of deferment.)
Continuing Enrollment in School
If you are enrolled at least half-time as a student working toward a degree or certification at an institution approved by the U.S. Department of Education, your loan payments may be deferred.
If you are unable to find full-time employment, your loan payments may be deferred for up to 36 months. (An employment agency must verify that you are registered with them and actively seeking work.)
If you are working but facing financial hardship, please give us a call to find out whether you qualify to have your loan repayments deferred for up to 36 months. We may need documentation showing your most recent monthly disposable income from all sources, a copy of your most recent federal income tax return, and/or a record of your total outstanding educational loans.
Reduction of Payments
If you are working but facing financial hardship, your loan payments may be reduced for up to 36 months. You will need to complete a financial statement in order to qualify for reduced payments. Interest will continue to accrue, and you may choose to pay it each month or to pay it in full at the end of your deferment.
Cancellation of Loan Debt
Permanent and Total Disability
Your loan debt may be cancelled if you are totally disabled (defined as: unable to work to earn money because of a medically determined impairment that is expected to continue for an indefinite period of time or to result in death).
Your remaining loan debt will be cancelled in the event of your death.
This is only a summary of these provisions, which are subject to change in response to congressional action.
Last update on February 14, 2011