Common use of Deferment Period Criteria Clause in Contracts

Deferment Period Criteria. Your account will be placed into a paused status, and you will not make payments if you: • Are enrolled full-time (as defined by your institution) in Higher Education or Training and are making satisfactory academic or training progress in the program • Are employed and earning less than $3,333.33 monthly (equivalent to an annual Earned Income of $40,000) • Are unemployed (not working but actively seeking employment) • Are not in the labor force (not working and not actively seeking employment; for instance, taking time off due to illness or to care for a child, relative, or spouse) • Document your eligibility for a Deferment Period to us • Continue to provide all information requested by us to continue to determine your eligibility for a Deferment Period • Remain current on all other obligations under this Agreement, including any obligations to remit information of documentation to us

Deferment Period Criteria. Your account will be placed into a paused status, and you will not make payments if you: • Are enrolled at full-time (as defined by your institution) in Higher Education or Training and are making satisfactory academic or training progress in the program • Are employed and earning less than $3,333.33 monthly (equivalent to an annual Earned Income of $40,000) • Are unemployed (not working but actively seeking employment) • Are not in the labor force (not working and not actively seeking employment; for instance, taking time off due to illness or to care for a child, relative, or spouse) • Document your eligibility for a Deferment Period to us • Continue to provide all information requested by us to continue to determine your eligibility for a Deferment Period • Remain current on all other obligations under this Agreement, including any obligations to remit information of documentation to us

Deferment Period Criteria. Your account will be placed into a paused status, and you will not make payments if you: • Are enrolled full-time (as defined by your institution) in Higher Education or Training and are making satisfactory academic or training progress in the program • Are employed and earning less than $3,333.33 4,166.67 monthly (equivalent to an annual Earned Income of $40,00050,000) • Are unemployed (not working but actively seeking employment) • Are not in the labor force (not working and not actively seeking employment; for instance, taking time off due to illness or to care for a child, relative, or spouse) • Document your eligibility for a Deferment Period to us • Continue to provide all information requested by us to continue to determine your eligibility for a Deferment Period • Remain current on all other obligations under this Agreement, including any obligations to remit information of documentation to us