Unemployment Deferment

To defer repayment of your loan(s) while you are unemployed, you must:

• Be conscientiously seeking, but unable to find, full-time employment (working at least 30 hours per week in a position expected to last at least three months) in the United States in any field or at any salary or responsibility level
• Be registered with a private or public employment agency if there is one within 50 miles of your current address
• Provide your lender or servicer with documentation of your conscientious search for full-time employment during the preceding six months (except in the case of the initial period of unemployment)

For borrowers whose first loans were made before 7/1/93, maximum cumulative eligibility is 24 months. For those borrowers whose first loans were made on or after 7/1/93, maximum cumulative eligibility is 36 months. All borrowers must re-apply every six months.

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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