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Student Loans After Graduation

The first obligation may be the repayment of student loans. After graduating from college, there is usually what is called a "grace period" before the first payment is due. This period is typically six to nine months depending on the type of loan.

Grace periods begin after graduation, when a student withdraws from college or if a student has less than half-time status.

Depending upon the type of loan a student has, repayment will vary. There are private and federal loans.

For Private Loans:

For Federal Loans:

  • Stafford Loans - grace period is six months
  • Perkins Loan - grace period is nine months
  • Interest rates are fixed
  • Default and origination fees are included
  • There is never a prepayment penalty if the loan is repaid early
  • Forbearance and deferment benefits may be allowed if the borrower experiences difficulties repaying the loan, but this is not automatic

Types of Repayment Plans
Repayment Plan Calculator & Tips

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