Internship/Residency Deferment

To defer repayment of your loan(s) while you participate in an internship/residency, you must be:

• Engaged in a federally recognized internship/residency program

If your internship/residency program is at an institution of higher education, hospital or health care facility, to qualify it must:

• Be a supervised training program
• Lead to a degree or certificate
• Require that you hold at least a Bachelor's Degree before acceptance into the program
• Accept you into the internship/residency program

To qualify, if your internship/residency program is at any other institution or organization, it must:

• Be a supervised training program
• Be required before you may be certified for professional practice or service
• Require that you hold at least a Bachelor's Degree before acceptance into the program

You must:

• Be accepted into the internship/residency program
• Provide your lender or servicer with a separate statement from your state licensing agency which certifies your internship/residency, or portion thereof, is required before you may be certified for professional practice or service

The above information summarizes portions of federal regulations promulgated under the Higher Education Act of 1965 (the "Act"), as amended, and the Act itself, and does not purport to be comprehensive or definitive or to summarize or describe all of the provisions thereof. Such summary is qualified in its entirety by reference to such laws.

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