Hello everyone,
I’m returning to school on a more than half-time basis, and my federal loans are currently in forbearance. Should I switch to in-school deferment?
If my school reports enrollment late and the deferment is approved retroactively, will the interest that accrues on subsidized loans be removed? (I know unsubsidized loans keep accruing.)
After the semester ends and I drop below half-time, do I still get the full 6-month grace period, or does repayment start right away?
Any insight from people who’ve been through this would be appreciated. Thanks!
Question about loan deferment when returning to school
byu/gp01011 inStudentLoans
Posted by gp01011
1 Comment
>I’m returning to school on a more than half-time basis, and my federal loans are currently in forbearance. Should I switch to in-school deferment?
You typically won’t have a choice. Your school will report your enrollment to FSA and they’ll automatically put you in deferment.
>If my school reports enrollment late and the deferment is approved retroactively, will the interest that accrues on *subsidized* loans be removed? (I know unsubsidized loans keep accruing.)
Can’t guarantee this, but I do t think it takes so long that subsidized interest needs to be refunded.
>After the semester ends and I drop below half-time, do I still get the full 6-month grace period, or does repayment start right away?
Depends. If you used all of the original grace period (which I’m assuming you did or you wouldn’t now be in forbearance), then payments resume right away. You don’t get a second grace period.