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Loan Deferment and Default

Learn how to defer your student loan payments until a later date and avoid entering default status.

Loan Deferment

To Request a Student Loan Deferment:

Contact your student loan servicer and request an 'in-school' deferment form.

  • If you are unsure who your servicer is, log in to the National Student Loan Data System (you will need your FAFSA PIN).
  • If the loan is a private/alternative loan, the student will need to refer to their promissory note and contact the lender to determine if there are any deferment options available.

You must be enrolled in a minimum of six (6) credit hours for the term or the credit hours required by their lender.

  • Classes with a Grade Mode of 'Audit' are not part of the required six (6) credit hours.

Request verification of your enrollment after the census date for the class. Check Dates and Deadlines for the census date.

For Continuing Students, CNM will Notify the Following Agencies of Enrollment Status:

  • The National Student Clearinghouse (NSC) of their enrollment. NSC then notifies the National Student Loan Data System (NSLDS).
  • If a notice to your loan servicer is needed sooner, the student can take the loan deferment form to the CNM Records Office for processing.

Loan Default

Students who have not defaulted on a loan, may under certain conditions defer (postpone payment on) a student loan after leaving school. See Borrower Rights and Responsibilities for a list of the more common conditions under which loans may be deferred.

Students who feel they may be eligible for a student loan deferment must contact their lender. While applying for a deferment, the student must continue to make payments until the deferment is approved. If the payments are not continued, the student may end up in default status.

If you don't make your loan payments, you risk going into default. Defaulting on your loan has serious consequences. Your school, the financial institution that made or owns your loan, your loan guarantor, and the federal government all can take action to recover the money you owe.

Understand how missing a loan payment can be a problem, what default means and the consequences of default, and what you need to do if your loan is in default or if you think the default on your loan is an error. For more information about default, including consequences of default and how to resolve a defaulted loan, please visit this website.

Cohort Default Rate

A cohort default rate is the percentage of a school's borrowers in the U.S. who enter repayment on certain loans during a federal fiscal year (October 1 to September 30) and default prior to the end of the next one to two fiscal years. The United States Department of Education (ED) releases official cohort default rates once per year.

Important Note: Some schools have a small number of borrowers entering repayment. Other schools have only a small portion of the student body taking out student loans. In such cases, the cohort default rate should be interpreted with caution as these rates may not be reflective of the entire school population.

CNM’s 2016 draft CDR is 21.4% and will not be official until October 1, 2019.

2015 Official CDR 2015 National Average Official CDR for public community college
24.3% 16.7%