<prompt> Human: So my wife graduated College in May and she thought she had 6 months before her loans went out of deferment and she had to start paying for them. This would allow her enough time to look for a job. We just found out that she will have her first payment of 200 due at the end of July. She was perplexed, so she called the loan company and they said since she took a long break back in 2007, that was her 6 month deferment and you are only allowed one deferment. She started back at school in 2009 and the bills stopped because she was in school. Does anyone know if we can postpone the payments for a few more months without being penalized? Sorry if this is the wrong sub  <response>: Youre referring to a grace period. You only get one grace period that cannot be renewed or extended. Deferment is a separate process. 