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When do you pay back student loans?

Jessie Thompson

in Student Loans

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Ross Pratt on November 30, 2018

Response . Depends on the type of loan: -Stafford: 6 months after you graduate, withdraw, or drop below half-time. This loan type is eligible for subsequent deferment if after back-to-school at least half-time, but there is only 1 six-month grace period. -Perkins: Same as above, but grace period is 9 months. -PLUS loan (for graduate students): This loan is eligible for deferment of payment while you are in school at least half-time. This type of loan, enter the payment immediately after you stop attending - THERE is NO 6 OR 9 MONTH GRACE PERIOD. -Federal Consolidation Loans: This loan is eligible for deferment of payment while you are in school at least half-time. This type of loan, enter the payment immediately after you stop attending - THERE is NO 6 OR 9 MONTH GRACE PERIOD. -PLUS loan (for parents): This loan is going to refund as soon as it is disbursed in its entirety. The enrollment of the student, it does not matter. This type of loan you are eligible for a school deferment for the time that the FATHER is in school at least half-time. -Private/Alternative loans: The terms vary. Read the loan agreement or ask the lender.


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