Deferment (noun)

1. A delay or postponement.
2. A period of time during which payment or action is postponed or delayed.

Origin:

Late 16th century: from latin differre "to delay," from de- "away from" + ferre "to bear, bring".

Examples:

1. The company was granted a deferment on its loan payments until next year.
2. He was granted a deferment from military service during the war.
3. Due to the financial crisis, many students are requesting deferments on their student loans.
4. The deferment of her wedding has given her time to re-evaluate her relationship with her fiancé.
5. The government has granted a six-month deferment to companies to pay their taxes.