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this is the financial requirement for your loans to be in the type of forebearance that it is in.
https://www.dl.ed.gov/borrower/DefermentFormList.do?cmd=doViewRequirements&wizardName=Economic Hardship Deferment
Deferment Requirements Economic Hardship Deferment < Back to Deferment List Eligibility Requirements Maximum Time Limit: 36 months
Must Reapply: Every 12 months (unless you qualify under Condition #3 below)
Requirements. To qualify, you must meet one of the conditions listed below and provide the required documentation for only that condition.
1.You have been granted an Economic Hardship Deferment on a loan made under the Federal Family Education Loan (FFEL) or the Federal Perkins Loan Program for the period of time for which you are now requesting an Economic Hardship Deferment for your Direct Loan(s). 2.You are receiving payment under a federal or state public assistance program, such as Temporary Assistance for Needy Families (TANF), Supplemental Security Income (SSI), Food Stamps, or state general public assistance. 3.You are serving as a Peace Corps volunteer. 4.You are working full-time and your total monthly gross income from employment must be less than or equal to the larger of (A) the monthly minimum wage rate or (B) 150% of the Poverty Guideline amount for your family size and state, as shown in the charts below. (A) Federal Minimum Wage Hourly Rate $7.25 Monthly Rate $1,256.67 Annual Rate $15,080.00
(B) 150 % of Monthly Poverty Guidelines Family Size 48 Contiguous States and D.C. Alaska Hawaii 1 $1,361.25 $1,700.00 $1,567.50 2 1,838.75 2,297.50 2,116.25 3 2,316.25 2,895.00 2,665.00 4 2,793.75 3,492.50 3,213.75 5 3,271.25 4,090.00 3,762.50 6 3,748.75 4,687.50 4,311.25 7 4,226.25 5,285.00 4,860.00 8 4,703.75 5,882.50 5,408.75 For each additional person, add 477.50 597.50 548.75
You can use the interactive download button on the top of this page to pre-qualify online Certifications/Documents Required •Complete, sign and date your form and send it to:
Direct Loan Servicing Center Borrower Services Department P.O. Box 5609 Greenville, TX 75403-5609 •Include with your application the information described below: ◦Condition #1: No additional documentation is required. We will confirm that you have been granted an Economic Hardship Deferment on a loan made under the FFEL Program or the Federal Perkins Loan Program. ◦Condition #2: Evidence of federal or state public assistance program payments. ◦Condition #3: Evidence to certify your period of service in the Peace Corps. ◦Condition #4: Evidence of your income. If you are reporting monthly income from employment and other sources, you must provide documentation such as pay stubs. If you are reporting one-twelfth of your adjusted gross income, you must provide a copy of your most recently filed Federal Income Tax Return.
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