* Most FFEL and Direct Loans have 6-month grace periods.
* Perkins Loans have grace periods of either 6 or 9 months, depending on when the loan was first disbursed.
* Health professions loans have grace periods of 9-12 months.
During the grace period, no interest accrues on Subsidized loans. Interest accrues on Unsubsidized loans during grace periods, and this interest is capitalized when borrowers’ loans enter repayment.
Borrower's repayment periods begins the day after the grace period ends. First payments will be due within 60 days after the repayment period begins.
Each loan has only one grace period. If borrowers return to school after the grace periods has expired, the borrowers’ loans qualify for deferment while borrowers are enrolled but return to repayment after borrowers leave school. There is no additional grace period.
Grace Period End Date
The date on which a grace period for a loan is expected to end.
When applying for a Direct Consolidation Loan, a grace period end date must be less than nine (9) months from the date you apply, or your Consolidation application cannot be accepted.
Half-time
A student is considered half-time when carrying at least one half the academic workload of a full-time student as determined by the school.
Health Professions Loans
Loan programs authorized by the Public Health Services Act and administered by the U.S. Department of Health and Human Services (HHS) rather than the U.S. Department of Education. Although health professions loans can be included in consolidation loans, borrowers should be aware of the advantages and disadvantages of consolidating these loan types because of the differences between the programs. See the benefits comparison chart for details.
