DIVISION OF STUDENT FINANCIAL AID

Peace Corps Deferment

Intended to cover volunteer service under the Peace Corps Act.

• Available to a borrower only if he or she has an outstanding FFELP loan that was first disbursed before August 15, 1983.

Eligibility Criteria: To qualify for the Peace Corps deferment, a borrower must request it and provide the lender with a statement from an official of the Peace Corps program certifying:

• That the borrower has agreed to serve as a volunteer on a full-time basis for at least one year.
• The date on which the borrower's service began.
• The date on which the borrower's service is expected to end.

Deferment Documentation: If the borrower requests a Peace Corps deferment, the lender should forward to the borrower the following common deferment form: Public Service Deferment Request PUB.

Length of Deferment: The Peace Corps deferment begins on the date the condition entitling the borrower to the deferment first existed, as determined by the lender.  The deferment ends no later than 3 years after the date on which it began, or the date on which the borrower's commitment is certified to end or actually ends, whichever is earlier.

For more information, visit the Department of Education's web page at www.ed.gov.