Repayment Planning

Repayment on most education loans begins following a grace period. The grace period begins when you graduate, leave school, or your enrollment status drops below half-time, whichever comes first. It ends when your first loan payment is due.

Your lender and/or servicer will send a repayment schedule for each of your education loans during the grace period. This notice will list the total amount you owe, your estimated monthly payment amount, the date your first payment is due, information about the payment plans available to you, and where to send payment.

If you do not receive your repayment schedule at least one month prior to the end of your grace period, you should contact your lender or servicer.

• Federal Stafford Loan - 6 months
• Federal Perkins Loan - 9 months
• Federal Consolidation Loan - No grace period
• Access Group Private Loans - 9 months
• Private Loans from Other Lenders - check your promissory note

Note about Federal PLUS Loans: There is no grace period on Federal PLUS Loans, however, Access Group offers a 6-month forbearance to allow Graduate PLUS borrowers to align the start of PLUS repayment with repayment on Federal Stafford Loans. Borrowers must request this forbearance by contacting their servicer.

Note for Dental students with private loans: Borrowers who participate in a required residency or postdoctoral study remain in an "interim period" and do not enter repayment until 9 months after completion of such a program, not to exceed 45 months after graduation.

Note for Medical students with private loans: Borrowers who participate in a required residency program remain in an "interim period" and do not enter repayment until 9 months after completion of such a program, not to exceed 57 months after graduation.