Get Economic Hardship Deferment Request - PNC Student Loans

If you demonstrate undue hardship, you can get some or all of your student loan debt discharged via a full or partial discharge. If the court denies a discharge, you may be able to settle for more favorable loan terms, such as deferment, an extended repayment period, or a lower interest rate.

Loans That Qualify for Economic Hardship Deferment If interest will accrue on your loan during the deferment period, you can decide to pay the interest as it accrues, or, you can allow it to be capitalized. That means it will be added to your principal balance when your deferment period expires.

The economic hardship deferment is available only if you have a federal student loan. You are eligible only if you are not in default on your loans and if you obtained the loans on or after July 1, 1993.

Most deferments are not automatic—you need to submit a request to your student loan servicer, often on a form. Also, for most deferments, you must provide your student loan servicer with documentation to show that you meet the eligibility requirements for the deferment.

To initiate a short-term hardship assistance option, the request must be made by calling 1-800-523-8654. There is no documentation or form required to initiate this payment assistance option, but you must call us to request and determine eligibility.

The economic hardship deferment is available only if you have a federal student loan. You are eligible only if you are not in default on your loans and if you obtained the loans on or after July 1, 1993.

To prove undue hardship for student loans, it is essential to document your good-faith efforts to repay your lender. This includes correspondence with your lender regarding your repayment options, monthly statements, and records of payments.

We've all gone through a time when money was tight. If you're really strapped for cash, you might be able to pause or reduce payments temporarily through student loan deferment or forbearanceOpens in a new tab. These programs provide a grace period when you won't have to make payments on your loans.