When do I pay back my Stafford Loans?

After you graduate, leave school, or drop below half-time enrollment, you will have a six-month "grace period" before you begin repayment. During the grace period on a subsidized loan, you won't be charged interest. During the school and grace periods on an unsubsidized loan, interest will accrue; however, payments are not required. You can pay the interest, or it will be capitalized (added to your principal loan balance, thus increasing the amount you'll repay). During this period, you will also receive repayment information, and be notified of your first payment due date. Once you leave school, or drop below half-time attendance, we encourage you to contact your lender/servicer to make sure they have current contact information so you receive all the required repayment information. This will help you build a high credit score.

FFEL programs offer four repayment plans that you can choose from. You will receive more detailed information on your repayment options during entrance and exit counseling sessions that your school will provide.