Student Loan Grace Periods

The student loan grace period which begins after graduating, leaving school or dropping below half-time is a specific length of time before the borrower will begin repaying the loan(s). The length of time depends on the type of student loan.

For a Federal Loan (Direct Loan Program or Federal Family Education Loan Program), the grace period will be six months. Each loan has only one six month grace period. Interest on Unsubsidized Loans will continue to accrue during the grace period and the borrower has the option to pay or allow it to capitalize at the end of the grace period.

For Federal Perkins Loans, the grace period will be nine months.

For private student loans, speak with your lender or review your promissory note to determine if you have a grace period and if so, what is the length of that period before payments must begin.

Payments for interest and/or principal on the loans can be made during the grace period.