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What is a deferment?

What is a deferment? Here are some definitions.

Noun
  1. An act or instance of deferring or putting off.
  2. Officially sanctioned postponement of compulsory military service.
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Examples
The maximum amount of deferment you can receive for unemployment or economic hardship is 3 years, and that's for the life of the loan.
I was given a deferment because the work that was being done was essential to the war effort.
There were plenty of opportunities to a deferment from the draft and avoid service.
Malmesbury maternity unit campaigners will continue to fight to save the unit following the deferment of a decision on its future.
Congress has condemned such actions, but has, through delay and deferment, resisted sending legislation to the President for possible veto.
The release is very clear to mention that existing products that use these products will not be affected by this deferment.

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