You’re typically required to start repaying your loans six months after graduating or dropping below half-time enrollment.
Repayment typically begins six months after graduating, leaving school, or dropping below half time enrollment. But, depending on your specific loan, you may have nine months or more before your first payment is due.
The six-month grace period is designed to give you time to find a job before you begin payments, but you might not want to wait if you can afford to make payments right away. Repaying ahead of schedule can minimize the amount of interest you pay overall.You probably took out your earliest loans as a first-year student — it’s no surprise if you don’t remember the details. Studentaid.gov
If all else fails, contact your school’s financial aid office to see if they have any records about your student loans. They may be able to assist you in finding your loan servicer details.Look at your budget to figure out what you can afford to start paying toward student loans each month. Your potential payment amount will depend on your income, other expenses, and overall financial goals.
Once you have an idea of your income, subtract your recurring monthly expenses from that figure. Include necessities like housing, food, and insurance, along with niceties like shopping, dining out, and entertainment costs.
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