Hmm, this makes a certain amount of sense to me

My guess at their reasoning is: if a loan is potentially going bad, granting a deferment for a couple of months just delays their ability to take action on it, while it sits on the books going bad. And if you don’t have a job, they don’t have any reason to know whether your circumstances are going to improve. (on the plus side, from their point of view, it does accrue more interest, but I suspect that interest on overdue accounts isn’t money they think they’re quite likely to see)