Can you defer student loans? The answer to this question is yes, you can defer student loans. Sometimes a student may be unable to pay off a loan or keep up his monthly payments. In such cases, students can avail the option of loan deferment and postpone loan payments to a later date. Loan deferment is only possible under a few circumstances where the borrower displays adequate inability to make regular loan repayments due to financial issues. By deferring a loan, a student is able to protect his or her credit score and relieve financial stress for a fixed period of time.