What is the difference in deferment and forebarrance?

Deferment and forbearance are both options available to borrowers experiencing financial difficulties, but they differ in their terms and implications. Deferment allows borrowers to temporarily pause their student loan payments without accruing interest, typically for specific circumstances like returning to school or economic hardship. In contrast, forbearance permits borrowers to stop or reduce payments, but interest continues to accrue on the loan balance, potentially increasing the total amount owed. Both options offer relief, but they have different consequences for the loan's overall cost.