Repayment Plans & Options
Any time you drop below half-time status, your federal Stafford loans will enter their 6-month grace period. Keep in mind that you only receive one grace period in the lifetime of your Stafford loans. If at any time your 6-month grace period expires and you enter repayment, you will not receive another grace period.
During the grace period, you will receive:
- Payment booklet
- First payment due date
- Payment amount
- Option to change repayment plan
During the grace period, you should review the repayment options on your loans. Most student loan lenders and servicers offer different repayment options to accommodate your financial circumstances. Check with your lender or servicer for details on repayment plans. Repayment plans usually reflect one of the following options and can be changed up to one time per year.