If you borrowed a Federal Subsidized Loan, payments of principal and interest start after a six-month grace period that begins when your enrollment drops below half-time status. During your grace* period, the Federal government pays the interest that accrues on a subsidized loan.

Your grace period is a great time to find out how much you owe by going to nslds.ed.gov to retrieve your student loan information. This site provides you with information on your student loans as well as any grants you may have received. You will need your FSA ID to access this information. If you have forgotten your FSA ID, you can reset your logon information on this site. This site will also provide you with information on your student loan servicer(s).

If you borrowed a Federal Unsubsidized Loan, payments of principal and interest start after a six-month grace period that begins when your enrollment drops below half-time status. However, as soon as the unsubsidized loan funds are applied to your student loan account, interest begins accruing. You can choose to pay the interest in monthly or quarterly installments, or you can defer the interest until it is time to begin repaying the loan principal. If you choose not to pay the interest that accrues, the interest will be added to your principal balance.

If you borrowed a Federal Perkins Loan, payments of principal and interest start after a nine-month grace period that begins after your enrollment drops below half-time status. Check with your school to get more information about repayment of your Federal Perkins Loan.

Remember, a Federal student loan is an obligation that must be repaid. You must repay your student loan even if your financial circumstances become difficult. It must be repaid even if you didn’t get the education or job you expected, or if you did not complete your education.

Generally, you will make your student loan payments to your loan servicer. There is not a penalty if you make prepayments on your loan. Prepayments may substantially reduce the amount of interest you pay. The time it takes to repay your loan will vary depending on the repayment plan you choose.

          *If you received a Direct Subsidized Loan that was first disbursed between July 1, 2012 and July 1, 2014, you will be responsible for paying any interest that accrues during your grace period. If you choose not to pay the interest that accrues during your grace period, the interest will be added to your principal balance.