Your grace period begins the day after you graduate, leave school or drop below half time enrollment status and ends the day before your loan repayment period begins.


Grace period length is not the same for all loan types:  


  • Direct Subsidized Loans, Direct Unsubsidized Loans, Subsidized Federal Stafford Loans, and Unsubsidized Federal Stafford Loans have a six-month grace period before payments are due.
  • Federal Perkins Loans have a nine-month grace period before payments are due.
  • Parent PLUS and Graduate PLUS Loans do not have a grace period. You will begin repaying these loans immediately after the first disbursement.

You are responsible for paying all interest on Direct Unsubsidized Loans, Unsubsidized Federal Stafford Loans and Federal PLUS Loans, which begins to accrue immediately after your first disbursement. Even though you are not required to make interest payments while in school or during your grace period; however, doing so can save you a considerable amount of money in the long run.