Deferment

Pronunciation: /dɪˈfɜːrmənt/

Deferment (noun)

  1. An agreement to pay later than planned, often with a set date for when the money must be paid.
  2. A delay in doing something required, such as starting a course or job, until a later time.
  3. A legal permission to delay service in the armed forces for a person who meets certain conditions.

Examples

  • The deferment allowed me to pay later without penalties.
  • A deferment can help when money is tight this month.