Loan Deferment

If you’re a former college student with student loans and want to complete a degree or need additional training, the in-school loan deferment program may be for you.

Federal student loans provide in-school deferment, meaning that while you are taking at least six college credits per quarter in a financial aid-approved program, you are not required to pay your student loans.

If you have student loans, but haven’t finished your degree or you need additional training to get ahead at work, returning to college can pause your current student loan repayments while helping you advance your career to earn more money. When it does come time to pay off your student loans, you’ll likely be making more money and have an easier time with the payments.

How This Benefits You

The estimated cost of tuition and fees at Highline College for six credits per quarter is around $800. If your expected student loan payment is higher than $800 over three months, this could be a smart alternative to paying your loans.

By coming to Highline, you’ll finish your degree or advance your training to make your eventual student loan payments more manageable. Plus, most students who don’t have a bachelor’s degree will qualify for grant and scholarship aid, which could result in you paying nothing for your tuition and fees. Every student’s situation is different; so apply now and see if coming back to school at Highline could be the right fit for you.

Here are two examples of how coming to school at Highline using in-school loan deferment could work for you.

Example 1

Your student loan payments are set to begin in October. You haven’t paid your student loans in over two years, and your $250 per month payments no longer fit into your budget.

You apply to Highline and enroll in classes totaling six credits at Highline College to finish your associate degree in business. You also apply for financial aid, and even though you were on financial aid suspension the last time you were in school, the Highline Financial Aid office has put you on probation and you’re once again eligible for grants and scholarships.

• If you paid your student loans for three months, you’d owe a total of $750.
• Tuition and fees at Highline College are $800 for the quarter.
• Without financial aid, you would have to pay the $800 plus around $100 for books for the quarter, but because you applied for financial aid, you are receiving a total of $1,140 in financial aid grant assistance.

This means that not only are your tuition, fees and books fully covered, but you’ll also have a small amount of money left over from your financial aid.

While you’re attending class at Highline, your loan payments don’t need to be made.

Example 2

Your student loan payments are set to begin in October. Your payments are expected to be $110 a month. While you went to college and have an associate degree, you’re missing a certificate that would help you land a promotion, allowing you to make an additional $6.15 an hour. You’re working full time, but know you could commit to two classes a quarter as long as you finished the certificate quickly.

You apply to Highline’s Drafting Design certificate program, which is financial aid eligible. The Financial Aid office offers you $600 per quarter in financial aid.

• If you paid your student loan for three months, you’d owe $330.
• Tuition and fees at Highline College are $800 for the quarter.
• Financial aid provides you $600 in grant and scholarship aid per quarter.

Ultimately, you would not have to pay the $330 in student loan payments, and your total out-of-pocket for the quarter would be around $300 – $200 after financial aid pays your tuition and fees, and about $100 for your textbooks.

While this cost savings doesn’t seem to be much, you’ll make an additional $6.15 per hour after you have the certification, meaning you’ll make an extra $246 per week. Over a month, that’s more than $900, which will make it a lot easier to pay your $110 per month student loan payment.

How to Get Started

1. Apply for Admission to Highline College. It’s free!
2. Complete the FAFSA application for financial aid. It’s also free!
3. Read and follow the material we send you in your Welcome to Highline packet.
4. Enroll in at least six credits in an associate degree program or a certificate program requiring at least 45 credits.