Direct Loan Repayment
After you graduate, leave school, or drop below half-time enrollment, you have a period of time before you have to begin repayment. This "grace period" will begin:
Six months for a Federal Stafford Loan (Direct Loan Program or Federal Family Education Loan (FFEL) Program).
Nine months for Federal Perkins Loans.
The repayment period for a Direct PLUS Loan begins at the time the PLUS loan is fully disbursed, and the first payment is due within 60 days after the final disbursement. However, a graduate student PLUS Loan borrower (as well as a parent PLUS borrower who is also a student) can defer repayment while the borrower is enrolled at least half-time, and, for PLUS loans first disbursed on or after July 1, 2008, for an additional six months after the borrower is no longer enrolled at least half-time. Interest that accrues during these periods will be capitalized if not paid by the borrower during the deferment.
Parent PLUS Loan borrowers whose loans were first disbursed on or after July 1, 2008, may choose to have repayment deferred while the student for whom the parent borrowed is enrolled at least half-time and for an additional six months after that student is no longer enrolled at least half-time. Interest that accrues during these periods will be capitalized if not paid by the parent during the deferment.
The Direct Loan Program offers loan repayment plans designed to meet the needs of almost every borrower. Direct Loans are funded by the U.S. Department of Education through your school and are managed by a loan servicer, under the supervision of the Department of Education. The Direct Loan Program allows you to choose your repayment plan and to switch your plan if your needs change.
The Direct Loan Program offers loan repayment plans designed to meet the needs of almost every borrower. Direct Loans are funded by the U.S. Department of Education through your school and are managed by a loan servicer, under the supervision of the Department of Education. The Direct Loan Program allows you to choose your repayment plan and to switch your plan if your needs change.
If you currently have a Direct Loan and would like the exact payment amount on your loan, you can find it out by contacting your loan servicer.
Parent Direct PLUS Loan borrowers may only choose from the standard, extended, or graduated options, but student Direct PLUS Loan borrowers may also choose the income contingent repayment plan or the income-based repayment plan.
Standard Repayment | Extended Repayment | Graduated Repayment | Income Contingent Repayment | Income-based Repayment
Other Useful Financial Aid Sites: Direct Loan | Direct Loans Forbearance | Direct Loan Repayment | Direct Loan Forgiveness | Direct Loan Application | Federal Direct Loans | Stafford Loan |
Privacy Policy
Parent Direct PLUS Loan borrowers may only choose from the standard, extended, or graduated options, but student Direct PLUS Loan borrowers may also choose the income contingent repayment plan or the income-based repayment plan.
Standard Repayment | Extended Repayment | Graduated Repayment | Income Contingent Repayment | Income-based Repayment
Other Useful Financial Aid Sites: Direct Loan | Direct Loans Forbearance | Direct Loan Repayment | Direct Loan Forgiveness | Direct Loan Application | Federal Direct Loans | Stafford Loan |
Privacy Policy
