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Repaying Your Loans

Repaying Your Loans

Student Aid on the Web

What you need to know about repaying student loans…

After you graduate, leave school, or drop below half-time enrollment, you have a period of time before you have to begin repayment. This “grace period” will be

*six months for a Federal (FFEL) or Direct Stafford Loan.

*nine months for Federal Perkins Loans

(If you’re a parent reading this and you have a FFEL or Direct PLUS Loan, you don’t have a grace period-repayment generally must begin within 60 days after the loan is fully disbursed.)

Exit Counseling

You’ll receive information about repayment, and your loan provider will notify you of the date loan repayment begins. We can’t emphasize enough the importance of making your full loan payment on time either monthly (which is usually when you’ll pay) or according to your repayment schedule. If you don’t, you could end up in default, which has serious consequences (scroll down to the Default discussion below). Student loans are real loans—just as real as car loans or mortgages. You have to pay back your student loans. Find out about your obligations in this section so you can stay on top of your loans.

Get Your Loan Information

The U.S. Department of Education’s National Student Loan Data System (NSLDS) allows you to access information on loan and/or federal grant amounts, your loan status (including outstanding balances), and disbursements made. Go to

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