Guide to Deferring Personal Loan Payments

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What Is Loan Deferment?
How Does Loan Deferment Work?
Calculating How Much Deferment Will Cost
Does Deferring a Loan Affect Your Credit Score?
Possible Negative Effects
Possible Positive Effects
Deferment vs Forbearance
Federal Loan Deferment
Private Loan Deferment
Credit Card Deferment
Alternatives to Loan Deferment
Modified Payment Plans
Refinancing Your Loan
Confer With a Credit Counselor
Default
The Takeaway
Frequently Asked Questions
Photo credit: iStock/sturti
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About the Author
Ashley Kilroy is a personal finance expert with years of experience in radio, newspapers, magazines, and online content. Her work has appeared on websites including Forbes and Yahoo Finance. Ashley writes on a variety of personal finance topics for SoFi, including student loans, taxes, and insurance.
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