Grace Period Upon graduation, Lenders will usually give you a set amount of time before you must begin making payments. This grace period starts when you: a) Graduate, b) Leave School, c) Your class enrollment drops below half-time, whichever comes first. Grace Period by loan Type (as of January 2021): Federal Direct subsidized and unsubsidized: 6 months. Federal Stafford subsidized and unsubsidized: 6 months. Federal Direct PLUS for graduate students: 6 months. Federal Direct PLUS for parents: 6 months, Federal Perkins: 9 months. Private loans: Varies by lender(s). Ask your lender(s) if you’re not sure. GET THE ADVANTAGE: Use this time to 1) Get a job, 2) Know your take home pay, and 3) Begin tracking your monthly expenses. Info from "Success Strategies & Repayment Realities: A Guide to Repaying Student Loans," published by Access Group, Inc.
Comments
Post a Comment