Your grace period is the 6 months after you leave school or drop below half time. This is an important time to better understand and get ready for repayment!
- If you have a Direct Subsidized or Unsubsidized Loan, you must begin repaying your loan at the end of your 6-month grace period.
- If you have a Direct Parent PLUS or Consolidation Loan, there is no grace period. Payments start right after the final loan disbursement. Disbursement is when we send the money to your school.
About 45 days before your payment start date, we'll send you a schedule of when your payments start and your projected monthly payment amount. This amount is based on your loan's current balance.