Generally, payments of principal and interest on both federal and private educational loans are deferred until six or nine months after graduation or after a student's enrollment status drops to less than half time. This grace period is six (6) months for federal
Stafford loans and nine (9) months for federal Perkins loans. Most private educational loans have grace periods of up to nine (9) months. The federal Graduate PLUS loan does not offer a grace period; repayment begins immediately after graduation or after enrollment status drops to less than half-time. However, lenders may offer optional forbearance for students unable to make loan payments upon graduation. Equally important, educational loans only carry one grace period. Therefore, if you had previous educational loans on which the grace period has expired (usually due to taking time between previous education and law school or taking a leave of absence during law school), those loans begin repayment immediately upon graduation or after your enrollment drops to less than half time. In some cases forbearance is available, but you must request it from your lender. While no loan payments are required during the grace period, most student loans accrue interest. Please consult your disclosure statements and/or contact your lender(s) for detailed information.
