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Student Loan Success Strategies - Starting Grace Period

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.


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