Meaning of the word deferment in English

What does deferment mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

deferment

US /dɪˈfɝː.mənt/
UK /dɪˈfɜː.mənt/

Noun

the act of putting something off to a later time; postponement

Example:
The student requested a deferment of his loan payments.
We received a deferment on our tax filing deadline.