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Peace Corps Deferment

You may be eligible for up to three years of loan deferment for service as a Peace Corps volunteer. Principal and interest do not accrue during a period of deferment. A minimum of one year of service is required for eligibility. To determine if your loan type is eligible, please refer to the student loan eligibility guide.

Peace Corps deferments are granted on an annual basis. You must re-apply each year.

Eligibility

To qualify for a Peace Corps deferment, you must be a full-time member of the Peace Corps.

Additionally, to qualify for an Peace Corps deferment, your loan account must be paid to the start of the deferment period.

Grace Period

Following a Peace Corps deferment, you will receive an additional six-month grace period. Principal and interest will not accrue during the post-deferment grace period.

Applying for a Peace Corps Deferment

There are two ways to apply for a Peace Corps Deferment:

  1. Print and submit a Peace Corps Deferment Application.
    1. CompletePart I
    2. Have an authorized Peace Corps employee complete Part II
    3. Send the completed application to:
      Student Financial Services
      108 Shields Building
      University Park, PA 16802
  2. Provide an official letter from the Peace Corps stating your terms of service.

What are my options if my loan is not eligible for a Peace Corps Deferment?

If your loan is not eligible for a Peace Corps Deferment and you are unable to meet your scheduled payments, you may apply for an economic hardship deferment or forbearance.