Student Loan Repayment Process
StaffordLoans – After you graduate or drop to less than half-time enrollment, you’ll receive a six-month grace period before the first loan payment is due.
GradPLUSLoans – Your first payment is due within 60 days after the loan is fully disbursed. You may receive an in-school deferment on your Grad PLUS loan while enrolled at least half-time at an eligible school. For Grad PLUS loans first disbursed on or after July 1, 2008, the post-enrollment deferment permits you to defer your loan for the six-month period immediately following the date on which you ceased to be enrolled at least half-time at an eligible school.
Before the grace period expires on your Stafford loan or before the first payment is due on your Grad PLUS loan, you’ll receive a repayment schedule* which includes:
- Available repayment options.
- Outstanding loan balance.
- Interest
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