This calculator estimates a borrower’s ability to qualify for Economic Hardship Deferment based on criteria 6 which considers a borrower's debt to income ratio. This test applies to full-time workers (e.g. a typical medical resident). There are other factors that might influence your eligibility so you should not rely solely on this test.

Note: This calculator uses javascript. It will not work if your browser does not support javascript or if you have disabled javascript.

In what state do you live?	Other Alaska Hawaii
What is your family size?
Which rate should be used?	In-School Repayment
Monthly Income: Click here for definition	$
2007-2008 91 Day TBill Rate - sets interest rate on variable rate Stafford Loans (changes every July 1st): Click here for definition	%
	Loan Balance	Interest Rate
My Balance of Stafford Loans that were disbursed after 6/30/2006:	$	%
My Balance of Stafford Loans that were disbursed between 7/1/1998 and 6/30/2006:	$	%
My Balance of Perkins Loans:	$	%
My Balance of GradPLUS Loans:	$	%
My Balance of Additional Federal Loan Debt:	$	%
My Balance of Additional Federal Loan Debt:	$	%
My Balance of Additional Federal Loan Debt:	$	%

Qualification Tests
You Must Pass Test 1 and Test 2 To Qualify for Economic Hardship

Test 1
20% of My Monthly Income is:
My estimated Monthly Payment is:
Is My Monthly Payment greater than 20% of My Income?
Test 2
My Monthly Payment:		Line 1
My Monthly Income minus My Monthly Payment:		Line 2
330% of State Poverty:		Line 3
220% of Minimum Wage:		Line 4
Larger of Line 3 and 4:		Line 5
Is Line 2 less than Line 5?

If the answer is Yes, you appear to pass tests 1 and 2, however, this is only a simple worksheet. You will need to complete the Economic Hardship Deferment Request form. Extenuating circumstances could change the results.

If the answer is No, it appears that you do not pass one of the tests. If you appear to be close to passing or have extenuating circumstances, we recommend you complete the Economic Hardship Deferment Request form and discuss your circumstances with your servicer.

Economic Hardship Deferment Request Form

Monthly Income - Either your current monthly income from employment and other sources before taxes and deductions or one-twelfth of your "adjusted gross income" (exclude spouse's portion) on your most recent federal tax return. Back to top.

91 TBill Rate - The interest rate on Stafford Loans prior to June 30, 2006, changes every July 1st based on the last auction of 91 day T bills in the month of May. The Stafford Loan interest rate remains the same from July 1st through June 30th of the following year. The T Bill rate shown above, is the rate that was used to set the Stafford interest rate in effect July 1, 2007 - June 30, 2008. If you wish to try and estimate the expected rate for next year, you can view more recent T Bill auctions. You can then enter your estimate in the box above to get a prospective view of your eligibility. Back to top.