Before you have to begin repayment after you graduate, leave school, or drop below half-time enrollment, you have a period of time. This “grace period” would be
- 6 months for the Federal Direct Stafford Loan.
- Nine months for Federal Perkins Loans
Note to moms and dads: you don’t have a grace period-repayment if you have a Direct PLUS Loan. Payment generally must start within 60 times following the loan is completely disbursed.
You will get information regarding repayment, as well as your loan provider shall inform you for the date loan payment begins. We can not stress sufficient the necessity of making your loan that is full payment time either month-to-month (which will be often once you’ll spend) or in accordance with your payment schedule. Continue reading “Repaying Your Loans”