What is the grace period and how long is it?
The grace period is the length of time between the date the student leaves school, graduates or drops to less than half time enrollment status and the repayment begin date of the student loan obligation. For Federal Stafford (subsidized and unsubsidized) and Grad PLUS Student Loans, the grace period is six months beginning with the last date of attendance (on at least a half-time basis) or graduation date. For Parent PLUS loans, there is no grace period. Repayment begins within 45 to 60 days after final disbursement. However, as of 7/1/2008, parents do have the option to defer payments until the dependent student leaves school/graduates and uses his/her six month grace. There is no grace period for Consolidation loans.
