INCREASING READING SPEED

I. CONSIDERATIONS AND LIMITATIONS

• When time demands and purpose permits, you must possess the ability to "switch gears" (absorb the ideas and information in books at more rapid speeds).
• This high-level fast reading however should not be interpreted as applicable to all types of reading situations.

II. CAUSES OF SLOW READING SPEEDS

• Individual variables - intelligence, motivation, physiological and psychological traits.
• Deficiencies in vocabulary and comprehension levels required for the reading.
• Inflexibility - tendency to read everything the same way regardless of what it is.
• Passivity - failure to become involved with the material being read.
• Unnecessary and habitual regression or re-reading because of lack of
• concentration.
• Slow reaction time to reading material.

III. TO BEGIN...

• Determine the purpose of the assignment.
• Preview the selection to determine its difficulty.
• Be flexible. Determine how to read an assignment by its difficulty and purpose.
• Understand that there are many reading speeds, and pace yourself.
• Get ready to read. Sit at a desk or table; you may need to shut down your computer if it is on your desk. This will avoid the distractions of E-mail and Instant Messenger; do not sit on the couch.
• Set a time limit, but be realistic. Look at how many pages you have to read.
• Concentrate. If you push your rate up to capacity, you will not have time to think about other things and allow your mind to wonder.
• Try a self-pacing method:

Use an index card, ruler, or straight edge and move it down the page as you read.

-OR-

Move your finger or pencil point down the margin beside the lines you are reading.

• Relax - it promotes concentration.

http://www.ulc.psu.edu/studyskills/test_taking.html#essay

Taking Notes on Reading

Taking notes on reading requires the same skills that apply to class notes: observation, reading, and review.

When to take notes from reading:

• When you need more extensive notes than you can write in the margin of the text.
• When you are reading from a library book, etc.

Methods to use:

• Outlining - works best when material you are reading is organized.
• Cornell method - divide paper: notes on right half, left hand column for key words and questions, summary at bottom of page.
• Paragraph form - summarize what you read in your own words, include important terms.
• Mind maps - diagrams/summaries of overlapping lecture and text material.

Suggestions:

• Style/method of note taking should vary according to the material.
• Short story or poem:

1. Read the entire thing once without taking notes.
2. Write down your immediate impressions.
3. Reread the piece, taking notes on characters, plots, etc.

Scientific/technical material:

1. Copy important formulas, terms, etc.
2. Recreate or note page number of important diagrams or figures.

Tips on Underlining a Textbook

I. Tools

1. Pen and straight edge
2. Highlighter
3. Note paper

II. Purposes

1. Study begins when you decide what you will learn. When you underline, you decide what you will learn.
2. If you underline accurately, you will be able to review and make notes more easily.

III. Guides for underlining

A. Read an entire section first.

B. Do not underline too much.

C. Select information you want to learn to make into notes.

D. Make major points stand out clearly.

1. Use numbers.
2. Use double underlining.
3. Use stars.

E. Make margin notes.

1. Use key words.
2. Use brief summaries.
3. Make questions if you do not understand, so that you can return to that section.

F. Realize that introductions rarely contain material that needs to be underlined.

G. Turn major headings and sub-headings into questions.

1. Underline the condensed answer.
2. Answers may include information in:

1. Topic sentences.
2. Words printed in special type.
3. Numbered lists.
4. Pay attention to and be aware of words of transition, introduction, conclusion, and definition (in other words, accordingly, since, then, of course, but, yet, more important, likewise, besides, for these reasons, subsequently, afterwards, that is, that means, etc.)

3. Should see major facts in an outline form.

H. Use brackets when several lines are important to underline.

I. Use numbers when a series of ideas are important.

J. Mark a question mark beside unclear sections of information.

K. Write down questions in your notebook for class that you have for the Professor.

SQ3R - A STUDY/READING SYSTEM

SURVEY-QUESTION-READ-RECITE-REVIEW. These steps are a study/reading method that promotes an active attitude toward learning. When you clear your mind for the task of studying, you are alert and centered. You make yourself ready to learn and remember. Begin with:

I. SURVEY - gather the information necessary to focus and formulate goals.

• State your purpose for reading the material.
• Read the title - help your mind prepare to receive the subject at hand.
• Read the introduction and/or summary - pick out the chapter's main points.
• Notice each boldface heading and subheadings - organize your mind before you begin to read and build a structure for the thoughts and details to come.
• Skim over graphs, tables, charts, etc. to see how they support and explain the text.

II. QUESTION - help your mind engage and concentrate

Frame questions - perhaps variations of the headings, sub-headings, or topic sentences, which you make into your personal questions.

III. READ - read actively to answer your questions and to fulfill your purpose

• Set realistic time goals and number of pages to be read.
• Divide chapter into small sections, rather than trying to read the whole chapter non-stop.
• Ask yourself a question before each paragraph or section, and then locate the answer in the text.
• Take breaks when you feel unable to stay with the material due to daydreaming, drowsiness, boredom, hunger, etc.
• Use your hand and marking pen to pull your eyes down the page, marking only the essential words and phrases.
• Think, interpret, and analyze the first time you read, to avoid unnecessary re-reading.

IV. RECITE - retain your mind to concentrate and learn as it reads

• After each section - stop, look away from the book, recall your questions, and see if you can answer them from memory.
• If not, look back again, but do not go on to the next section until you can recite the answers.
• Also, try to visualize what you have just read.
• Make separate notes or outlines of what you have read (see page 4).

V. REVIEW - refine your mental organization and begin building memory

• Once you have completed the whole chapter:
• Reread your outline, look away, and recite the outline from memory.
• Go back over all your questions.
• Continue this process until you feel that you understand and know the material.
• Take a short break and reward your success.
• Decide when you are ready to work again, center your thoughts, take a few minutes to review the information you just learned, and go on to the next chapter or another subject.

Things I wish I knew Before Starting Med School

1. If I had known what it was going to be like, I would never have done it.
2. You’ll study more than you ever have in your life.
3. You don’t need to know anatomy before school starts. Or pathology. Or physiology.
4. You may discover early on that medicine isn’t for you.
5. Your social life may suffer some.
6. Residents will probably ask you to retrieve some type of nourishment for them.
7. Most of your time on rotations will be wasted. Thrown away. Down the drain.
8. You’ll work with at least one attending physician who you’ll want to beat the shit out of.
9. You’ll work with at least three residents who you’ll want to beat the shit out of.
10. At some point during your stay, a stranger’s bodily fluids will most likely come into contact with your exposed skin.
11. Somebody in your class will flunk out of medical school.
12. You’ll work 14 days straight without a single day off. Probably multiple times.
13. After the first two years are over, your summer breaks will no longer exist. Enjoy them as much as you can.
14. You’ll be sleep deprived.
15. There will be times on certain rotations where you won’t be allowed to eat.
16. You will be pimped.
17. You’ll wake up one day and ask yourself is this really what you want out of life.
18. You’ll probably change your specialty of choice at least 4 times.
19. Nurses will treat you badly, simply because you are a medical student.
20. There will be times when you’ll be ignored by your attending or resident.
21. You will develop a thick skin. If you fail to do this, you’ll cry often.
22. Public humiliation is very commonplace in medical training.
23. It’s always the medical student’s fault..
24. You’ll look forward to the weekend, not so you can relax and have a good time but so you can catch up on studying for the week.
25. Your house might go uncleaned for two weeks during an intensive exam block.
26. There’s a fair chance that you will be physically struck by a nurse, resident, or attending physician. This may include slapped on the hand or kicked on the shin in order to instruct you to “move” or “get out of the way.”
27. Any really bad procedures will be done by you. The residents don’t want to do them, and you’re the low man on the totem pole. This includes rectal examinations and digital disimpactions.
28. You’ll be competing against the best of the best, the cream of the crop. This isn’t college where half of your classmates are idiots. Everybody in medical school is smart.
29. Don’t think that you own the world because you just got accepted into medical school. That kind of attitude will humble you faster than anything else.
30. If you’re in it for the money, there are much better, more efficient ways to make a living. Medicine is not one of them.
31. Anatomy sucks. All of the bone names sound the same.
32. If there is anything at all that you’d rather do in life, do not go into medicine.
33. The competition doesn’t end after getting accepted to medical school. You’ll have to compete for class rank, awards, and residency. If you want to do a fellowship, you’ll have to compete for that too.
34. You’ll never look at weekends the same again.
35. Somebody in your class will be known as the “highlighter whore.” Most often a female, she’ll carry around a backpack full of every highlighter color known to man. She’ll actually use them, too.
36. Rumors surrounding members of your class will spread faster than they did in high school.
37. You’ll meet a lot of cool people, many new friends, and maybe your husband or wife.
38. Your first class get-together will be the most memorable. Cherish those times.
39. Long after medical school is over, you’ll still keep in contact with the friends you made. I do nearly every day.
40. There will be one person in your class who’s the coolest, most laid back person you’ve ever met. This guy will sit in the back row and throw paper airplanes during class, and then blow up with 260+ Step I’s after second year. True story.
41. At the beginning of first year, everyone will talk about how cool it’s going to be to help patients. At the end of third year, everybody will talk about how cool it’s going to be to make a lot of money.
42. Students who start medical school wanting to do primary care end up in dermatology. Those students who start medical school wanting to do dermatology end up in family medicine.
43. The money isn’t really that good in medicine. Not if you look at it in terms of hours worked.
44. Your family members will ask you for medical advice, even after your first week of first year.
45. Many of your friends will go onto great jobs and fantastic lifestyles. You’ll be faced with 4 more years of debt and then at least 3 years of residency before you’ll see any real earning potential.
46. Pick a specialty based around what you like to do.
47. It’s amazing how fast time flies on your days off. It’s equally amazing at how slow the days are on a rotation you hate.
48. You’ll learn to be scared of asking for time off.
49. Find new ways to study. The methods you used in college may or may not work. If something doesn’t work, adapt.
50. Hospitals smell bad.
51. The best time of your entire medical school career is between the times when you first get your acceptance letter and when you start school.
52. Medicine is better than being a janitor, but there were times when I envied the people cleaning the hospital trash cans.

MCAT Review Books

57 of 61 people found the following review helpful: I compiled the data from all the 5 star reviews, an honest look., June 4, 2009 By Robert Mckee (tucson, az) - See all my reviews EDIT: I want to preface this review saying that Examkrackers is a good resource and may be great for some and not for others. I don't want to give the idea that it is a bad resource. ________________________________________________________________________ Advantages: - the materials look great (color) - it seems to cover all the material necessary - great marketing Disadvantages: - The concepts are very weak, especially in biology. You need to understand WHAT is going on conceptually. You can't just be thrown facts and material without knowing WHAT is going on. I quote another reviewer, "I have to say, the science is very conceptually weak... they teach you shortcuts, but if you don't grasp the concepts, the mcats is about tricking you on the weaknesses and you'll go for all the tricks." - Not all of the books are excellent, the physics book is particularly weak. - SIDE NOTE: Exam Krackers 101 Verbal passages is actually very strong and a quality resource. I went through nearly all the reviews for this site for 30-40 minutes after I found the series to be less than 5 STAR quality (closer to 3) as so many reviewers were saying. I also noticed that a lot of the 5 star ratings were quick little "this is great, blah blah" short reviews. Please read some of the 3 star honest well written reviews. I did this. I also noticed over half of the 5 star reviews were following a certain pattern. The other thing that raised a flag was that this series had 96 reviews! 96! I tried to find ONE other MCAT comprehensive review that was close. Not one. The Kaplan 2007-2008 had 15 reviews, that was the closest. So I asked a simple question, "how can I be sure these reviews are real or not?". One possible answer was, reviewers like to review. So if these were REAL reviews then I would assume there may be at least ONE other review by that reviewer. JUST ONE. So I decided to waste an enormous amount of time (I have a nice quad-core HP computer less than a month old, so it helped me go faster) and open every reviewer to see if they had reviewed any other books, I felt compelled to do this if there was any foul play going on. Here is what I found: Here are the results as of June 4th, 2009: There were 58 reviews that gave 5 stars: ---37 of these reviews only reviewed this book (2 anonymous "by Customer"). That is over 63% ---Another 2 were fishy in that they only reviewed this book and another Examkrackers book OR this book and gave a Kaplan book a low score saying in the first sentence, "I would use the Examkrackers books". In the first sentence made it tough to swallow. Also they were referring to some site called secret-route-dot-com which I looked up on amazon and google and found to be a scam type book with glowing reviews and then people calling it a scam. All in all I estimate that 67% of the reviews were SINGLE reviews for this book (with only 2 that were this book and another EK book). 2 of every 3! ---33% of the reviewers that gave this book 5 Stars had reviewed some other book by some other publisher. Which looked real. Crosscheck me on this, it is verifiable and true. Also because the reviews were fake it is likely that Examkrackers will not be able to remedy this situation because when you create a fake email to write a fake review you can't log in again because you will forget the log in/email. To be fair I went to check out the Kaplan Premier Program with the highest number of reviews. The 2007-2008 had 15 reviews, I was only interested in the 5 star reviews as on this book (as if someone is to falsify reviews that would likely be 5 or 1 star reviews). There were FIVE 5 star reviews, and of the 5 all 5 had reviewed at least one other book or product from amazon.com. --100% of the people who highly reviewed the Kaplan product were REPEAT reviewers and had reviewed some other book. I am not advocating Kaplan's book as I haven't used it yet. I am very worried about the fidelity of some of these 5 star reviews. I would estimate that most of them are fake.

Types of Loans

All Stafford Loans are either subsidized (the government pays the interest while you're in school) or unsubsidized (you pay all the interest, although you can have the payments deferred until after graduation). To receive a subsidized Stafford Loan, you must be able to demonstrate financial need. About 2/3 of subsidized Stafford loans are awarded to students with family AGI of under $50,000, 1/4 to students with family AGI of $50,000 to $100,000, and a little less than 10% to students with family AGI over $100,000. Stafford loans are loans that the student will borrower in his/her name.

Parent Loan for Undergraduate Students (PLUS): PLUS loans are loans made available to credit-worthy parents of dependent, undergraduate students. The maximum yearly amount a parent may borrow under this program is the student's cost of attendance minus any other financial aid he/she is receiving. This loan is not based on need. A parent may borrow for multiple children during the same year. For PLUS Loans disbursed on or after July 1, 2006, the interest rate is fixed at 7.90 for Direct PLUS Loans and 8.50 percent for FFEL PLUS Loans.Fees up to 4% may be deducted from these loans.

PLUS loans for graduate students: As a result of the Higher Education Reconciliation Act of 2005, PLUS loans are now available to graduate students. The same terms and conditions apply to these loans as those used in determining Parent PLUS loan eligibility...including a credit check. Applicants for a Graduate PLUS loan must first exhaust their Stafford loan eligibility; thus requiring the completion of the FAFSA. Fees up to 4% may be deducted from these loans.

Perkins Loan: These loans are funded by federal and institutional dollars and given to the neediest undergraduate and graduate students. They carry a 5% interest rate and do not have to be repaid until nine months after the student graduates or drops below half-time. The maximum an undergraduate student can borrow is $4,000 annually and $6,000 annually for graduate students. What Kind of Loan Should I Borrow?

It's possible that several loan options may appear on your award letter. If this is the case, it's best to go in this order:

1. Perkins Loan - Perkins Loans have a fixed interest rate of 5% and no fees. Going into the 2006-2007 academic year, this is the best deal. Again, not everyone will be eligible for a Perkins Loan. Consult your award letter.
2. Stafford Loan - Stafford Loans currently have a fixed interest rate of 6.0%. Also, an origination fee and/or guarantee fee of up to 4% can be deducted from the proceeds of the loan.
3. PLUS Loan - Currently, PLUS Loans have an interest rate that is fixed at 7.90 for Direct PLUS Loans and 8.50 percent for FFEL PLUS Loans. Also, an origination fee and/or guarantee fee of up to 4% can be deducted from the proceeds of the loan. (These terms and conditions apply to both Parent and Graduate PLUS loans.)
4. Private Loans - Typically, these loans have the highest interest rates and fees. Your credit rating can also affect your interest rate and fees. Use a private loan only if you have exhausted all programs listed above first.

You should also note any borrower benefits that may be offered on these loans. Many loan providers offer up-front and back-end benefits that can substantially reduce the cost of borrowing. Examples include: 1) lowering the interest rate after so many on-time payments, 2) waiving fees altogether, and 3) interest rate discounts for borrowers participating in auto-debit. These are important factors when choosing what loan to borrow and who the lender will be.

How Do I Get a Loan?

Below are the typical steps in securing a student loan:

1. Step 1: Complete the FAFSA and any other institutional forms the school requires.
2. Step 2: The schools you listed on your FAFSA will receive an ISIR and be able to calculate your loan eligibility.
3. Step 3: The school will send you an award letter displaying your loan eligibility and instructions on how to pursue the loan
4. Step 4: The borrower must complete a promissory note. In the case of a Stafford or PLUS loan, this is called an MPN.
5. Step 5: The school will certify your loan eligibility to the lender on the MPN.
6. Step 6: The lender will disburse funds via paper check or EFT to your school on the scheduled disbursement date (the disbursement date is established by the school and is included in their certification to the lender in Step 5).
7. Step 7: The school will apply the loan amount to your student account at the school.
8. Step 8: Any remaining balance can be refunded to the student to be used toward living expenses, books, etc.


How Much Will My Payment Be?

Your monthly payment of the loans you borrow throughout your college career will depend on the repayment term, interest rate and amount borrowed. Therefore, you'll have to look at each loan independently. Using the Stafford loan interest rate of 6.0% and standard repayment term of 10 years, you can expect to pay roughly $111/month for every $10,000 borrowed. Again, this is a standard repayment plan. Depending on the type of loan, other repayment options may exist. Here are some other plans that may be available:

* Extended Repayment Plan - This plan simply extends the repayment period of the loan. The maximum repayment term is limited to 25 years. The result is lower monthly payments, but more interest paid over the life of the loan.
* Graduated Repayment Plan - This plan typically allows borrowers to make interest-only payments for a period of time and then gradually increasing the amount they pay over the course of the repayment term. This plan can be combined with an extended repayment plan.
* Income-sensitive Repayment Plan - This plan is specific to the FFELP. It allows borrowers to make monthly payments equal to a percentage (between 4% and 25%) of their monthly gross income.
 Income-contingent Repayment Plan - This plan is specific to the FDLP. Each year, the borrower's monthly payment is based on their adjusted gross income (as reported on the U.S. income tax return) family size, the interest rate, and total amount of Direct Loan debt.

Loan Consolidation

Consolidation allows the borrower to combine multiple types of federal education loans into one loan, so that only one monthly payment is required. The repayment term can be between 10 and 30 years depending on how much you consolidate and which repayment option you choose. The primary benefit is a more manageable monthly payment, but the cost being in the form of substantially more interest being paid over the life of the loan. The consolidation interest rate is the weighted average of the underlying loans rounded up to the nearest one-eighth percent. Be sure to check with your loan provider before making this decision.

These loans are made through one of two U.S. Department of Education programs:

William D. Ford Federal Direct Loan (Direct Loan) Program

Loans made through this program are referred to as Direct Loans. Eligible students and parents borrow directly from the U.S. Department of Education at participating schools. Direct Loans include subsidized and unsubsidized Direct Stafford Loans (also known as Direct Subsidized Loans and Direct Unsubsidized Loans), Direct PLUS Loans, and Direct Consolidation Loans. You repay these loans directly to us.

Federal Family Education Loan (FFEL) Program

Loans made through this program are referred to as FFEL Loans. Private lenders provide funds that are guaranteed by the federal government. FFEL Loans include subsidized and unsubsidized FFEL Stafford Loans, FFEL PLUS Loans and FFEL Consolidation Loans. You repay these loans to the bank or private lender that made you the loan.

Whether you (or your parents) receive a Stafford or PLUS Loan depends on which program the school you attend participates in. Most schools participate in one or the other, although some schools participate in both.

It’s possible for you to receive both Direct and FFEL Loans but you can’t receive the same type of Direct or FFEL Loan for the same period of enrollment at the same school. Some schools use one loan program for Stafford Loans and another loan program for PLUS Loans. For example, a graduate or professional student could receive a Direct Stafford Loan and a FFEL PLUS Loan for the same period of enrollment at the same school.

What’s the interest rate on these loans?

For loans first disbursed on or after July 1, 2008, the interest is 6.0 percent for subsidized* Stafford loans for undergraduate students and 6.8 percent for unsubsidized* Stafford loans for undergraduate and graduate students.

FFEL PLUS Loans first disbursed on or after July 1, 2006 have a fixed interest rate of 8.5 percent. Direct PLUS Loans first disbursed on or after July 1, 2006 have a fixed interest rate of 7.9 percent.

Over a four-year period beginning July 1, 2008, the interest rate on subsidized Stafford loans made to undergraduate students, with a first disbursement date on or after July 1, 2008, will be reduced as shown in the following chart:

How do I apply for a Perkins or Stafford Loan?

As with all federal student aid, you apply for a Perkins or Stafford Loan by completing the FAFSA. A separate loan application is not required. However, you’ll need to sign a promissory note,* which is a binding legal contract that says you agree to repay your loan according to the terms of the promissory note.* Read this note carefully before signing it and save a copy for your records.

Can I cancel?

Yes. Before your loan money is disbursed, you may cancel all or part of your loan at any time by notifying your school. After your loan is disbursed, you may cancel all or part of the loan within certain timeframes. Your promissory note* and additional information you receive from your school will explain the procedures and timeframes for canceling your loan.

How to Choose and Evaluate Lenders

You'll need to choose a lender if you obtain a FFEL Stafford Loan. (If you have a Direct Stafford Loan, the federal government through the U.S. Department of Education is your lender.) Schools that participate in the FFEL Program will usually have a list of preferred lenders. Student loan borrowers may choose a lender from that list, or choose a different lender they prefer (for example, a credit union). Here are a few things to think about when selecting a FFEL lender.

When you graduate with a graduate or professional degree, the maximum total debt allowed from Stafford Loans is $138,500. No more than $65,500 of this amount may be in subsidized loans. This maximum total graduate debt limit includes Stafford Loans received for undergraduate study. However, the aggregate loan limit for graduate and professional students enrolled in certain approved health profession programs is $224,000.

Other than interest, is there a charge for this loan?

For Stafford Loans that are first disbursed between July 1, 2009 and June 30, 2010, there is a fee of up to 1.5 percent of the loan, deducted proportionately from each loan disbursement. For a FFEL Stafford Loan, a portion of this fee goes to the federal government, and a portion goes to the guaranty agency (the organization that administers the FFEL Program in your state) to help reduce the cost of the loans. For a Direct Stafford Loan, the entire fee goes to the government to help reduce the cost of the loans. Also, if you don't make your loan payments when scheduled, you may be charged collection costs and late fees.

When do I pay back my Stafford Loans?

After you graduate, leave school, or drop below half-time enrollment, you will have a six-month "grace period" before you begin repayment. During this period, you'll receive repayment information, and you'll be notified of your first payment due date. You're responsible for beginning repayment on time, even if you don't receive this information. Payments are usually due monthly.

During the grace period on a subsidized loan, you don't have to pay any principal, and you won't be charged interest. During the grace period on an unsubsidized loan, you don't have to pay any principal, but you will be charged interest. You can either pay the interest or it will be capitalized (added to your principal loan balance, thus increasing the amount you'll repay).

What if I have trouble repaying the loan?

Under certain circumstances, you can receive a deferment or forbearance on your loan, as long as it's not in default. During a deferment, no payments are required. You won't be charged interest for a subsidized FFEL or Direct Stafford loan. If you have an unsubsidized Stafford Loan, you are responsible for the interest during deferment.

If you're temporarily unable to meet your repayment schedule (for example due to poor health or other unforeseen personal problems), but you're not eligible for a deferment, your lender might grant you forbearance for a limited and specified period. For more information, go to the Repayment Information section of this Web site.

Can my Stafford Loan ever be discharged (canceled)?

Yes, but only under a few circumstances. Your loan can't be canceled because you didn't complete the program of study at the school (unless you couldn't complete the program for a valid reason the school closed, for example), or because you didn't like the school or the program of study, or you didn't obtain employment after completing the program of study.

Postponing Repayment
Deferment: You can receive a deferment for certain defined periods. A deferment is a temporary suspension of loan payments for specific situations such as reenrollment in school, unemployment, or economic hardship. For a list of deferments, click here. You don’t have to pay interest on the loan during deferment if you have a subsidized FFEL or Direct Stafford Loan or a Federal Perkins Loan. If you have an unsubsidized FFEL or Direct Stafford Loan, you’re responsible for the interest during deferment. If you don’t pay the interest as it accrues (accumulates), it will be capitalized (added to the loan principal), and the amount you have to pay in the future will be higher. You have to apply for a deferment to your loan servicer (the organization that handles your loan), and you must continue to make payments until you’ve been notified your deferment has been granted. Otherwise, you could become delinquent or go into default.

Economic Hardship Deferment

A FFEL, Direct Loan, or Federal Perkins Loan borrower may qualify for an economic hardship deferment for a maximum of three years if the borrower is experiencing economic hardship according to federal regulations. The Loan Deferment Summary Chart here shows Stafford Perkins Loan deferments for loans disbursed on or after July 1, 1993. For information on deferments for loans received before that date, Direct Stafford and PLUS Loan borrowers should contact the Direct Loan Servicing Center at 1-800-848-0979. TTY users should call 1-800-848-0983. Or, go online at www.dl.ed.gov. FFEL Stafford and PLUS Loan borrowers should contact their lender. For more information on deferments, contact your lender or the financial aid office at your school.

Forbearance: Forbearance is a temporary postponement or reduction of payments for a period of time because you are experiencing financial difficulty. You can receive forbearance if you’re not eligible for a deferment. Unlike deferment, whether your loans are subsidized or unsubsidized, interest accrues, and you’re responsible for repaying it. Your loan holder can grant forbearance in intervals of up to 12 months at a time for up to 3 years. You have to apply to your loan servicer for forbearance, and you must continue to make payments until you've been notified your forbearance has been granted.

Other Forms of Payment Relief

Although you’re asked to choose a repayment plan when you first begin repayment, you might want to switch repayment plans later if a different plan would work better for your current financial situation. Under the Federal Family Education Loan ProgramSM, you can change repayment plans once a year. Under the Federal Direct Student Loan ProgramSM, you can change plans any time as long as the maximum repayment period under your new plan is longer than the time your Direct Loans have already been in repayment. Go to the Repayment Plans and Calculators section to learn more about options available to you to repay your loans.