Repaying Your Loans

Your Loans

Repaying Your Loans

Starting Repayments

Approximately 30-45 days from the last day of your grace period, your first payment will be due. You will receive a repayment schedule during your grace period that will disclose payment amounts, due dates and the period of time you will be paying.

Grace Period?

The federal student loan “grace period” begins the day after you graduate, leave school, or drop below half-time enrollment. Federal Direct loans have a six-month grace period; other federal student loans may have longer or shorter grace periods.

Payments are not required during the grace period; however, you may wish to pay the interest that accrues during this period. Any interest that is unpaid when repayment begins will be capitalized and added to your principal balance, increasing the total loan amount you must repay. Note: interest is charged on unsubsidized loans during the grace period, but not on subsidized loans.*

*Interest will be charged during the grace period for subsidized loans disbursed between July 1st 2012 and June 30th 2014.

Grace Periods for Different Direct Loans
Repayment Plans
What is principal and interest?
What is a loan servicer, and how do I contact them?
How do I contact the Direct Loan Program or find additional information?
Are Perkins and Direct Loan repayment statements together in one bill?
What if my grace period expires before I go on to graduate school?
What do I do if I can't make my loan payments?
How do I file a student deferment?
Is there a penalty for prepayment of my student loans?
What is loan consolidation?
Are you having trouble making payments?