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Postponing Your Institutional Loan Payment

If you are having trouble making your Institutional Loan payments, immediately contact the Loan Department at 310.338.1942 (if your last name begins with A-L) and 310.258.5449 (if your last name begins with M-Z). You might qualify for a deferment, forbearance, or other form of payment relief. It's important to take action before you are charged late fees.

Deferment for the Loyola Marymount California Loan 
A Deferment may be granted at the option of the holder if:

  • The borrower is a full-time undergraduate student at LMU.
  • The borrower is a full-time graduate student at an accredited college or university (deferments may not exceed 3 years).
  • Serving in the Military (deferments may not exceed 3 years).
  • Or suffering from a disabling illness and has demonstrated such to the satisfaction of the holder.

Deferment for the Fritz B. Burns Student Loan
A Deferment may be granted at the option of the holder if:

  • The borrower is a full-time graduate student at an accredited college or university (deferments may not exceed 3 years).
  • Serving in the Military (deferments may not exceed 3 years).
  • Suffering from a disabling illness and has demonstrated such to the satisfaction of the holder (deferments may not exceed 2 years).
  • Borrower is a full-time undergraduate at LMU

Deferment for the Jack Shandler Student Loan
A Deferment may be granted at the option of the holder if:

  • The borrower is a full-time graduate student at an accredited college or university (deferments may not exceed 3 years).
  • Serving in the Military (deferments may not exceed 3 years).
  • Suffering from a disabling illness and has demonstrated such to the satisfaction of the holder (deferments may not exceed 2 years).
  • Borrower is a full-time undergraduate at LMU

Economic Hardship Deferment
All three institutional loans require a cosigner. In order to qualify for an Economic Hardship Deferment, both you and your loan cosigner will be required to complete an Institutional Loan Financial Statement indicating you are both experiencing financial difficulties. You will also be required to provide documentation that supports your Economic Hardship request.

Please complete the Economic Hardship Deferment Application.

Should you have any questions, please contact the Loan Department for further details.