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To qualify for a parental-leave deferment you must give your lender a statement docHubing that you are pregnant, caring for your newborn child, or caring for an adopted child immediately following the placement of the child with you, and wont be attending school or working full-time during the deferment period.
If you took out a federal parent PLUS loan for your childs education, you dont have to start paying it back right away. Parent PLUS loan deferment is available up until six months after your child graduates or drops below half-time enrollment. Interest will accrue on the loans during a deferment.
Income-Contingent Repayment is the only income-driven repayment plan parent PLUS loan borrowers can use. To be eligible, you must first consolidate your parent PLUS loans. Switching to Income-Contingent Repayment could lower your payments docHubly if you qualify.
Here are four methods you can try for working toward parent PLUS loan forgiveness, depending on your personal situation. Income-Contingent Repayment (ICR) Public service loan forgiveness (PSLF) Career-based loan repayment assistance programs. Refinance parent PLUS loans in your childs name.
A parent PLUS loan deferment or forbearance pauses payments while your child is enrolled at least half-time or up to six months after graduation. However, interest typically accrues during forbearance and deferment, increasing the total cost of your parent PLUS loan.
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People also ask

Can you defer Parent PLUS Loans? Yes, a Direct PLUS Loan for parents allows repayment deferment. Forbearance is also possible on Parent PLUS Loans.
Parental Leave Deferment You may defer payments while pregnant or caring for a newborn or newly adopted child, if you were in school within the past six months and are no longer enrolled or working full-time.
Do I have to make payments on my loan while my child is still in school? If you request a deferment, you will not need to make payments while your child is enrolled at least half-time and for an additional six months after your child graduates, leaves school, or drops below half-time enrollment.

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