When Will Repayment Begin?
Repayment of federal student loans typically begins six months after you graduate, withdraw from college, or drop below half-time enrollment. This grace period allows time for you to plan for repayment by evaluating your financial situation and the various repayment options available. For most student loans, interest will accrue during your grace period.
Parent PLUS loan borrowers are expected to begin repayment within 60 days after full disbursement, unless you qualify for a deferment.
Before the end of your grace period, you’ll get a repayment schedule from your loan servicer that includes details about:
- your balance
- interest rate
- repayment options
Contact your loan servicer if you have not received this information before the end of your grace period.
Below is a sample schedule for your grace period and first loan payment, depending on when you graduate:
|Graduation Date||End of Grace Period||First Payment Due|
No Later Than
|May 15||Nov 15||Jan 14|
|Aug 15||Feb 15||April 14|
|Dec 15||June 15||Aug 14|
If you are planning a major purchase during the grace period, such as a car, renting an apartment or making other important financial considerations, be sure to include your student loan payment in your plans to ensure your purchase(s) make financial sense.