David’s Did You Know on Grace Period

Posted by on December 7, 2011

Did you know a Grace period is the period of time between when a student leaves school or drops below half time (6 credits) and the time they must start repaying their student loans?

For most students this is a 6-month period.  It is important to note that if a student uses up any of their grace period for taking a quarter off or dropping below half time that they will have less grace period left when the they leave school.  The grace period is meant to give students an opportunity to graduate and get a job before those payments start up.  So before taking a quarter off for a break, consider the consequences, not only are you prolonging your graduation date but you are using up your grace period and will need to start paying back your loans earlier.

David Stelten

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