Your Payments
Repayment of most subsidized and
unsubsidized Federal Direct Loans begins six months after you have
graduated or are no longer enrolled in school at least half time.
The period between those events and repaying your loan is a
six-month grace period.
Borrowers of Parent PLUS and Grad PLUS loans may request
deferment of repayment while either the borrower or the student for
whom the loan was borrowed is enrolled at least half time and for
six months thereafter. As of July 1, 2026, the Grad
PLUS loan program will end.
Choosing a Repayment Plan
Your loan servicer will contact you before your first loan
payment is due. In addition, you will be provided with a choice of
repayment plans. Please contact your loan servicer or visit Federal Student Loan Repayment Plan on StudentAid.gov
to find the latest information on federal student loan repayment
plans.
If you do not notify your loan servicer of your selected
repayment plan, or do not provide the required
documentation, your loan will be set up on a standard repayment
schedule.
It is very important that you keep your loan
servicer informed of your current address and contact information
so you will receive the repayment information.
If you aren't sure who is servicing your federal student loan,
see Who's My Student Loan Servicer on StudentAid.gov.
Reviewing Your Repayment Schedule
The repayment schedule will reflect:
- the total balance of your loan,
- your interest rate,
- the amount and due dates of your monthly payments based either
on a standard repayment plan or the repayment plan you
selected,
- and where you must send your payments.
Carefully review all the information on your repayment schedule
to make sure it is correct. If the information is not accurate or
you do not receive the schedule, contact your loan servicer.
You can learn about your federal student loan, including the
total amount of your loans, through StudentAid.gov.
On-Time Payments: An Investment in Your
Future
Consistently paying your student loans on time builds a strong
credit history, which directly affects your ability to borrow in
the future. Lenders use this history to decide whether to approve
you for loans and what interest rate to offer. A higher credit
score, fueled by timely payments, can mean lower borrowing costs
for major purchases such as a car or a home -- saving you money
over the long run.
Bottom line: Pay on time, and you'll be
opening doors, not closing them.