deferment

A deferment delays something until a future time. If you want to wait a few years before paying off a loan, you need to ask for a deferment.

Deferment is an official word for "I'll do that later!" College students who owe a lot of money can apply for deferments that give them more time to pay back their loans. Students accepted to colleges can sometimes get a deferment that allows them to do something else first (like serve in the military), and then attend the college later. This is usually used in formal contexts — good luck getting a deferment for your chores.

Definitions of deferment
  1. noun
    act of putting off to a future time
    synonyms: deferral, postponement
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    types:
    adjournment
    the act of postponing to another time or place
    type of:
    delay, holdup
    the act of delaying; inactivity resulting in something being put off until a later time
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