STUDENT FINANCIAL SERVICES  |  OFFICE OF THE UNIVERSITY REGISTRAR  |  STUDENT EMPLOYMENT

   
Student and Parent Loans
Federal Student Loan Repayment Timing
 

Your first regularly scheduled loan payment will be due on the following schedule and will be based on a 10-year monthly repayment:

 
Federal Consolidation Loan:  First month after completing the consolidation loan
Federal Grad PLUS Loan:  6 months after you graduate or cease being enrolled at least half time (for disbursements after 7/1/2008
Federal Direct Loan:
6 months after you graduate or cease being enrolled at least half time
Perkins/Health Profession Loan/Nursing Student:  9 months after your graduate or cease being enrolled at least half time
 
If you are not prepared to make your first scheduled payment or cannot afford the monthly payments on a 10-year repayment (see section on repayment amounts), you should read the information below and contact your lender to explore options. 
 
Deferment and Forbearance
 

Most lenders offer deferment and forbearance periods with student loans.  You should explore deferment first, as it contains more favorable terms for subsidized loans.

Deferment – granted by lender for periods of continued enrollment or other special circumstances as defined by lender; postpones repayment up to 12 months; interest paid by government on subsidized loans but continues to accrue on unsubsidized loans; contact your lender for specific eligibility requirements and processes.

Forbearance – granted by lender for extreme financial hardship or in certain instances when deferment isn’t available; postpones repayment up to 12 months; interest continues to accrue even on subsidized loans; contact your lender for specific eligibility requirements and processes.

Additional information can be found at http://www.finaid.org/loans/default.phtml

 
More Loan Repayment Information
  Student Loan Checklist
  Exit Interview
 

Loan Consolidation

 

Repayment Timing

 

Repayment Amount

 

Income-Based Repayment (IBR)

  Public Service Loan Forgiveness
 

Loan Glossary

 

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