Welcome guest, please Login or Register

   

If I apply for an income-driven repayment plan during the six-month grace period on my loans, will I still receive the grace period?

Avatar
Rank
Rank
Rank

Total Posts: 604

Joined 2011-03-30

PM

 

Yes. Choosing a repayment plan (including an income-driven repayment plan) during your six-month grace
period has no effect on the grace period. You do not enter repayment on your loans until after your grace
period has ended.

If you want to repay your loans under an income-driven plan when your grace period ends, you should apply
for the income-driven plan at least two months before the end of your grace period to allow time for
application processing. If you apply for an income-driven repayment plan too early, your loan servicer may
ask you to reapply closer to when your grace period will end.

For more information go to the Income-Driven Repayment Plans: Frequently Asked Questions Website