Mortgages & Loans
In Relation To Student Loans , What Is A Grace Period ?
Grace Period is a short time period after graduation during which the borrower is not required to begin repaying his or her student loans. The grace period may also kick in if the borrower leaves school for a reason other than graduation or drops below half time enrollment. Depending on the type of loan, you will have a grace period of six months for Stafford Loans or nine months for Perkins Loans before you must start making payments on your student loans. The PLUS Loans do not have a grace period.
Note If you need professional help with "Mortgages & Loans" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.