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:: When Will My Payments Begin? ::

Repayment of your Direct loan begins six months after you graduate, withdraw from school or drop below half-time enrollment. This six-month period, called a grace period, gives you time to assess your financial situation and adjust your budget to prepare for repayment.

If you're making large financial decisions like renting or buying a home or vehicle during your grace period, remember to factor in your future student loan payment when determining if your purchase makes sense financially.

If you’re a PLUS loan borrower, your first payment is due within 60 days after full disbursement, unless you qualify for a deferment.

Before the end of your grace period, you’ll get a repayment schedule from your loan servicer that includes detailed information about your balance, interest rate, fees and available repayment options. Contact your loan servicer if you don’t receive this information.

The chart belows gives you an idea of when your first payment may be due. Usually your first payment will be due within 60 days after your grace period ends. This chart helps you estimate when your payment will be due, but your loan servicer will provide you with a concrete due date.

Graduation Date

End of Grace Period

First Payment Due No Later Than

May 15

Nov. 15

Jan. 14

Aug. 15

Feb. 15

April 14

Dec. 15

June 15

Aug. 14

Your monthly payment amount and the amount of time you have to pay off your loan depends on the amount you borrow, whether or not you receive a deferment or forbearance and the repayment option you choose.


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