As long as you have half-time status in school, your Federal Stafford and Perkins loans will be deferred, which means no payments have to be made on the loan. Your grace period, which is a six to nine month period of time after you graduate, starts on the last calendar day of your school year. After the grace period time is up, you will begin making monthly payments on your loans. Most students choose to consolidate their loans, which combines their loans into one monthly payment at a discounted interest rate.
For more information about student loans, please visit the source below. Good luck, I hope this helped!
♥ The payments for the loan start 6 months after graduation! Make sure you completely understand which type of loan you are getting because there are subsidized and unsubsidized loans. The unsubsidized loan is the loan that you pay [[just]] interest on WHILE IN school and the payments start the 6 months after. I only took out 1 loan... the subsidized loan. I pay a portion monthly [[because it was easier for me than taking out a second loan]] and then I'll have payments that will begin 6 months after I graduate. Good Luck!
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Did you fill out a fafsa? The government has the best student loans.
You don't have to start paying back your loans until about 6 months after you graduate.
If you need advice on which type of student loan to get I would suggest a federal government loan. Here's how to get it:
1) Fill out the FAFSA. This will determine if you are eligible for financial aid. Go here:
2) Once you are eligible for aid, the best loan to get is a Federal Perkins Loan. These have low interest rates and the government will help you pay it back as long as you stay enrolled in school. You also don't need a cosigner or good credit for it. For more info go here:
3) The next best loan to get is a Subsidized Stafford Loan. This has many of the same benefits as a Perkins Loan. Learn more here:
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