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Loan Repayment

Educational loans will need to be repaid once a student graduates or is no longer enrolled at least half-time.

Grace Period Information

Loans offer borrowers a grace period before repayment begins:

  • Federal Direct Subsidized and Unsubsidized Stafford Loans provide the borrower with a six month grace period after the student graduates or ceases to be enrolled half-time, before repayment begins.
  • Federal Perkins, Health Professional, and Disadvantage Student Loans provide a borrower with a nine month grace period after the student graduates or ceases to be enrolled half-time before repayment begins.
  • Federal Graduate and Professional PLUS Loans provide the borrower with a six month grace period after the student graduates or ceases to be enrolled half-time.
  • Federal Parent PLUS Loans begin repayment 60 days after the loan is fully disbursed unless the parent borrower selected a loan deferment. If a deferment was selected, the loan will begin repayment six months after the student graduates or ceases to be enrolled half-time.
  • Private/Alternative Loans may have various repayment start dates. Borrowers should contact their individual lenders for repayment start dates.

Repayment Estimation

Borrowers can estimate their monthly loan repayment amounts by using the Department of Education repayment estimator. Borrowers can look at how different repayment plans would impact their monthly payment.

Repayment Options

Federal loan servicers offer borrowers a variety of repayment plan options to help make repayment manageable for borrowers.

Federal loan repayment plan options include:

  • Standard Repayment
  • Graduate Repayment
  • Extended Repayment
  • Income Based Repayment (IBR)
  • Pay as You Earn Repayment
  • Income Contingent Repayment (only for Direct Stafford Loans)
  • Income Sensitive Repayment (only for FFELP Stafford Loans)

Borrowers can view more detailed information on the various repayment plan options here

Borrowers should contact their loan servicer to discuss and change repayment plans.