I have been receiving a student loan but I wanted to take a semester off in the summer. I will be returning back to school for the winter but I was wondering what happens if I enter the 6-month grace period.
Will I start paying back or will it be fine since I will go back to school within the 6-month period?
Posted by Soap_1237
2 Comments
As long as you return to school before the 6 months is up you will not enter repayment. You will get the full 6 months when you leave school for good. The only exception is PLUS loans. Those operate a little differently.
In my experience, grace periods were upon graduation or withdraw from university. Personally I was a full-time student taking spring and fall semester classes only and never experienced an issue