After you graduate, leave school or drop below half-time enrollment, you have a grace period of six months for Direct Loans (nine months on Perkins) before beginning to repay your loans.
After you graduate, leave school or drop below half-time enrollment, you have a grace period of six months for Direct Loans (nine months on Perkins) before beginning to repay your loans. Your first payment is due within 60 days after your grace period. Your lender(s) will notify you of your payment due dates.
Federal regulations require that you complete a loan exit counseling
session before you graduate and every
time you drop below half-time status. The counseling session provides information about how to manage your student loans.
Use the National Student Loan Data System
Financial Aid Review service for information on loan and/or grant amounts, outstanding balances, loan status, lender contact information and disbursements.
Several repayment plans are available. Generally, you'll have from 10 to 25 years to repay your loan, depending on which plan you choose. Learn more
You may be able to consolidate your Direct Loans, if you have at least one loan in grace, repayment, deferment or default status. In-school status loans are not included. Learn more about consolidation loans
The parent-borrower has the option of beginning repayment either 60 days after the loan is fully disbursed or six months after the dependent student drops to below half-time enrollment. Parent-borrowers must request deferment from their lender each year they wish to delay repayment. During this time, interest may be paid or capitalized.
If, at any time, you're having difficulty making payments, please contact the Financial Aid Office. A counselor will be happy to discuss the options available to help keep you from defaulting on your student loans.