Most federal loans have a grace period. The length of the grace period varies based on the type of loan(s) you have.
Contact your servicer(s) to find out the specifics on your loan(s) so you don't miss that first payment. If you don't know who your servicer(s) is, go to the National Student Loan Data System (NSLDS), the central database for federal student loan information.
Loan types
Each loan type has its own interest rate, grace period and repayment period... Read more >
Loan type
Interest
Grace period
Repayment period
Federal Direct Stafford
- Subsidized
- Unsubsidized
Fixed rate
- Subsidized: *4.66% for undergraduate (As of 7/1/2012, no new Subsidized Staffords are made for graduate students)
- Unsubsidized: *4.66% for undergraduate; 6.21% for graduate/professional
6 months
10-25 years
Federal Perkins loan
*5%
9 months
Up to 10 years
Federal Direct PLUS loan
*7.21%
6 months
10-25 years
Federal Consolidation loan
- Fixed interest rate for the life of the loan, rates are based on a weighted average of the interest rates on the loans being consolidated
NA
Up to 30 years
Private or alternative loan
Contact your lender
State program loan
Contact your lender
For more information about federal student loan types, interest rates, grace periods and repayment periods go to studentaid.ed.gov.
*Applicable for loans first disbursed on or after June 30, 2014.
If you have a loan(s) that is eligible for a grace period, any of the following situations will start your grace period... Read more >
If you have a loan(s) that is eligible for a grace period, any of the following situations will start your grace period.
Graduating from school
Withdrawing from or leaving school
Anything that causes you to drop below half-time enrollment
Your grace period begins the day after your separation date. Your school determines the exact date on which it considers you "separated." If you graduated, your separation date is usually graduation day.
Contact your servicer(s) to find out exactly when your grace period began and when your first payment is due. Be sure to give your servicer(s) your current contact information so they can send you payment information.
If you go back to school at least half-time and your grace period has expired, you can request a deferment. You won't have to make student loan payments, although if you have an... Read more >
If you go back to school at least half-time and your grace period has expired, you can request a deferment. You won't have to make student loan payments, although if you have an unsubsidized loan(s), interest will continue to accrue (accumulate).
If you go back to school at least half-time and your grace period has NOT expired, your grace period starts over. For example, if you have used five months of your grace period and you go back to school, you will get the full six-month grace period again the next time you leave school.