Student loan repayment begin date

Grace period

Many student loans have a grace period, which is a length of time (depending on the loan type) after you stop attending school at least half time. During the grace period, you don’t have to make payments—though interest accrues on some loans.

• Federal Perkins Loans:
  • Initial grace period is nine months
  • If you reenroll in school at least half time:
    • During initial grace period and school approves in-school deferment, get another 9-month grace period after stop attending school
    • After initial grace period, get a 6-month grace period after stop attending school
• Direct Subsidized and Unsubsidized Loans / Federal Stafford Loans: 6-month grace period
• Direct PLUS Loans / Federal PLUS Loans: No grace period; can request a deferment for 6-month period after stop attending school at least half time
• Institutional, alternative, and private loans: Check with the college/lender

First payment due

Repayment typically begins after the grace period ends, with the first payment due approximately 45-60 days later. If you don’t receive a payment notice before or at the end of your grace period, contact your loan holder. You are responsible for notifying your loan holder if you change your address or phone number and also for paying your student loan, even without a bill.

Determine who holds your loans.

Repayment tips

• You may pay part or all of your federal student loans at any time without a penalty. If you do so, you can significantly reduce the total amount of the debt you pay! If you have a spare $25 one month, pay it toward your student loans!
• Talk to your loan holder about setting up automatic payments for your loans. Be sure to deduct the amount from your personal bank records each payment date.

Problems with payment

If you are willing but temporarily unable to repay your loans, you might qualify for a deferment.