What is a Grace Period? When does grace start?
Grace period is a specific length of time in which the borrower is not required to make federal loan payments after their status has changed or separation from school. A status change occurs when a student drops below the required class load (6 credit hours or more for undergrads, 5 credit hours or more for graduate students), withdraws from school or graduates. Grace periods generally are from six (6) to nine (9) months after separation. To find out the grace period of a specific loan, contact your loan counselor or you can find out your grace period term within your exit interview.
