Student loans: Forbearance vs. deferment
Forbearance is very common with student loans, so much so that many servicers have made all the necessary forms available on their website. As with mortgages, student loans in forbearance allow you to stop making payments if you qualify based on specific criteria laid out by each lender and servicer. Your interest will continue to accrue, so getting back to regular payments as soon as possible is important.
A deferment, on the other hand, also allows you to stop making payments temporarily, but the interest stops accruing while you're in the deferment period. Like forbearance, you'll eventually have to make the payments, but if life is in the way or you've returned to school, it gives you a tool to reduce your living expenses temporarily. You will also have to apply for deferment in many cases, so contact your lender if this is an option you're considering.