DCL GEN-13-23 announces the renewal of the Military Service and Post-Active Duty Student Deferment Request with few substantive changes from the earlier version of the form. The expiration date of the revised form is September 30, 2016 and replaces the previous version of the form with an expiration date of July 31, 2013.
Loan holders and servicers may begin utilizing the attached OMB-approved Military Deferment form immediately. The previous version of the Military Deferment form with the expiration date of July 31, 2013 may continue to be distributed until February 28, 2014 and may be accepted until May 31, 2014. Beginning June 1, 2014, only the revised form may be accepted.
The following are the two substantive changes to the Military Deferment form:
- Inserting a reminder that borrowers who serve in the National Guard may be eligible for a forbearance if they are not eligible for a military deferment; and
- Inserting a reminder that borrowers who qualify for a military deferment may also be eligible to have their interest rate limited to 6 percent during their period of active duty military service under the Service members Civil Relief Act (SCRA) and providing instructions as to how that benefit must be requested. http://ifap.ed.gov/dpcletters/GEN1323.html