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Repaying Your Loan

Borrower Grace Periods

After you graduate, leave school, or drop below half-time enrollment, you have a period of time before you have to begin repayment. Grace periods vary depending on loan type.

Federal Stafford Direct Loan Borrowers - Subsidized and Unsubsidized

After you graduate, leave school, or drop below half-time enrollment you will have six (6) months before you have to begin repayment.

Direct PLUS Borrowers

The repayment period for a Direct PLUS Loan begins at the time the PLUS loan is fully disbursed, and the first payment is due within 60 days after the final disbursement. However, a graduate student PLUS Loan borrower can defer repayment while the borrower is enrolled at least half-time, and, for PLUS loans first disbursed on or after July 1, 2008, for an additional six months after the borrower is no longer enrolled at least half-time.

Make Your Payments on Time

Your loan servicer will provide information about repayment and will notify you of the date the loan repayment begins. It is very important that you make your full loan payment on time either monthly (which is usually when you'll pay) or according to your repayment schedule. If you don't, you could end up in default, which has serious consequences Student loans are real loans—just as real as car loans or mortgages and are reflected on your credit report. You have to pay back your student loans.

Get Your Loan Information

The U.S. Department of Education's National Student Loan Data SystemSM (NSLDSSM) provides information on your federal loans including loan types, disbursed amounts, outstanding principal and interest, and the total amount of all your loans. To access NSLDS, go to www.nslds.ed.gov.