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It depends on the type of loan:

-Stafford: 6 months after you graduate, withdraw, or drop below half-time. This loan type is eligible for subsequent deferment if you later return to school at least half-time, but there is only 1 six-month grace period.

-Perkins: Same as above, but grace period is 9 months.

-PLUS loan (for graduate students): This loan is eligible for deferment as long as you are in school at-least-half-time. This loan type goes into repayment immediately after you stop attending- THERE IS NO 6 OR 9 MONTH GRACE PERIOD.

-Federal Consolidation Loan: This loan is eligible for deferment as long as you are in school at-least-half-time. This loan type goes into repayment immediately after you stop attending- THERE IS NO 6 OR 9 MONTH GRACE PERIOD.

-PLUS loan (for parents): This loan goes into repayment as soon as it is fully disbursed. The student's enrollment does not matter. This loan type is eligible for a school deferment for as long as the PARENT is in school at-least-half-time.

-Private/Alternative loans: The terms vary. Read the loan agreement or ask the lender.

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16y ago

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Related Questions

What is a graduate plus student loan?

The Graduate Stafford student loan is the best available option for students to finance their education and future. Mainly these loans are of two type 1) Subsidized Graduate Stafford Loan 2) Unsubsidized Graduate Stafford Loan 1)- Subsidized Graduate Stafford Loan These loans are dependable on the financial needs of the applicant. The government is responsible to pay off the interest and you are not required to pay off it during the periods of deferment or until your repayment period starts. 2) Unsubsidized Graduate Stafford Loan These loans are dependable on the financial needs of the applicant. The students are charged with the interest through out the period of the loan. The interest is charged from the time of the enrollment of the student to the periods of deferment until the student repays the loan


What is a Federal Unsubsidized Stafford Loan?

It is a Federally Guaranteed student loan that accrues interest from the day you receive it until the day you pay it off, even during deferment periods. A Federal Stafford Subsidized loan does not accrue interest during deferment periods, including while in school.


Unsubsidized Loans Accrue Interest?

The Federal Stafford Loan program offers both subsidized and unsubsidized loans for college students. The former does not accrue interest, meaning the student will only have to pay back the principal amount. These are need-based loans available to students from lower income families. Unsubsidized Stafford Loans are not based on financial need. These loans do accure interest over time, and the maximum anount that can be borrowed is $2,000 per year for dependent undergraduate students and $6,000 per year for independent underclassman students.


What is a unsubsidized federal loan?

It is a Federally Guaranteed student loan that accrues interest from the day you receive it until the day you pay it off, even during deferment periods. A Federal Stafford Subsidized loan does not accrue interest during deferment periods, including while in school.


When are you required to pay back a FAFSA loan?

Yes, you are required to pay back federal loans that your accept after filling out the FAFSA. This includes subsidized loans, unsubsidized loans, and PLUS loans.


Can you use your Stafford student loan to pay off debt?

No, you cannot use a Stafford student loan to pay off personal debt. The only debt that should be paid off with an educational Stafford loan is your college debt.


Do you need to pay federal Stafford loan?

yes


Best student loans?

The best student loans to get are government student loans.Of the government loans, the best one 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.The next best loan is a Federal Subsidized Stafford Loan. This has many of the same benefits as a Perkins Loan.Finally, the Federal Unsubsidized Stafford Loan is available to all students, regardless of financial need.


How long do you have to pay off an unsubsidized loan?

It depends on how much altogether you have borrowed by the time you finish school, and the re-payment plan you choose when you go into repayment. Loan repayment terms can be from 10, 20, or 30 years (the latter only if you have a lot of loans). The difference between a subsidized and unsubsidized loan is that with an UNsubsidized loan, the interest begins accumulating right away while you are still studying, and a subsidized loan doesn't accumulate interest until after you graduate. This can make a huge difference in the overall total loan amount you will be paying back (and possibly in the length of time it takes to pay it back), as the interest of an unsubsized loan will start compounding as well. The best way to avoid this is to start paying off the interest of your unsubsidized loan while in school if you can afford it - then when you graduate, the balance of your loan will be what you actually borrowed and not higher due to compounded interest.


What is a low interest loan funded by the us department of education that eligible student may take out to pay for college?

Direct Stafford loan right for apex learning


Do federal Stafford loans have to be paid back?

Yes, you need to pay back federal Stafford loans.


Can you pay back a loan with the loan money?

No, you cannot pay back a loan with the same loan money.