Student Loan Repayment

Student Loan Repayment

Bowdoin Loan Deferments

Bowdoin College Consolidated Fund Loan Deferment Eligibility

The Bowdoin College Consolidated Fund Loan, also known as the Bowdoin Loan, is not a government student loan, but rather a loan fund maintained solely with Bowdoin College endowed funds created from donor gifts. It is similar to the Perkins Loan, but there are no cancellation benefits for the Bowdoin Loan, with the exception for reasons of death or permanent total disability.

A deferment is a period in which no payments are due and interest does not accrue. In addition, at the completion of a deferment period granted for a Bowdoin Loan, you will be granted a post-deferment grace period of 6 months.

Some deferments are available for all loans, regardless of when the loans were issued. Other deferments are available only if explicitly stated in your promissory note. You are entitled to a deferment on any Bowdoin Loan, regardless of the date of the loan, if you are:

  • enrolled as at least a half-time student in an institution of higher education
  • unemployed and seeking full-time employment.

Also, although not a deferment per se, if you are serving in either the Americorps program or with the Corporation for National and Community Service, you are entitled to a forbearance for which your organization will pay the accrued interest after a completed year of service.

For Bowdoin Loans granted after July 1, 1997, you are also entitled to a deferment if any of the following apply to you:

For Bowdoin Loans granted before July 1, 1997, you are also entitled to a deferment if any of the following apply to you:

  • serving in the Armed Forces
  • serving in the National Oceanic and Atmospheric Administration (Perkins only)
  • temporarily totally disabled
  • serving in a professional internship or residency
  • a volunteer in service for the Peace Corps or ACTION programs as established by the Domestic Volunteer Service Act of 1973
  • serving as a full-time volunteer in a qualifying organization

A deferment request form [pdf] can be used to request any type of deferment.

If you require financial relief but do not qualify for any of the deferments listed above, click here.