paying back grad PLUS/stafford loans (first due date)

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ASM11
Posts: 15
Joined: Fri Aug 20, 2010 1:07 pm

paying back grad PLUS/stafford loans (first due date)

Postby ASM11 » Sat Apr 14, 2012 6:21 pm

I know that you can get a 6 month grace period on these loans. I'm wondering if anyone knows the specifics. Does the first payment come due on the dot 6 months after the day of graduation? Ie, if I graduate May 15 will my first payment be due November 15th?

My start date might be later than I thought and I'm trying to get a feel for exactly when my first chunk of loan payments will come due. If anyone has any info on this, and the flexibility of changing due dates/extending the deferral period beyond the 6 months, this info would be greatly appreciated.

Thanks!

ToTransferOrNot
Posts: 1928
Joined: Thu Jan 22, 2009 12:45 am

Re: paying back grad PLUS/stafford loans (first due date)

Postby ToTransferOrNot » Tue Apr 17, 2012 2:47 pm

ASM11 wrote:I know that you can get a 6 month grace period on these loans. I'm wondering if anyone knows the specifics. Does the first payment come due on the dot 6 months after the day of graduation? Ie, if I graduate May 15 will my first payment be due November 15th?

My start date might be later than I thought and I'm trying to get a feel for exactly when my first chunk of loan payments will come due. If anyone has any info on this, and the flexibility of changing due dates/extending the deferral period beyond the 6 months, this info would be greatly appreciated.

Thanks!


The deferment ends (and all the accrued interest is capitalized) after 6 months; your loan will be due at some point the following month (not necessarily one month after the deferment ends). My deferment ended on Dec. 11 and I had a loan payment due Jan. 5.

ASM11
Posts: 15
Joined: Fri Aug 20, 2010 1:07 pm

Re: paying back grad PLUS/stafford loans (first due date)

Postby ASM11 » Wed Apr 18, 2012 6:15 pm

ToTransferOrNot wrote:
ASM11 wrote:I know that you can get a 6 month grace period on these loans. I'm wondering if anyone knows the specifics. Does the first payment come due on the dot 6 months after the day of graduation? Ie, if I graduate May 15 will my first payment be due November 15th?

My start date might be later than I thought and I'm trying to get a feel for exactly when my first chunk of loan payments will come due. If anyone has any info on this, and the flexibility of changing due dates/extending the deferral period beyond the 6 months, this info would be greatly appreciated.

Thanks!


The deferment ends (and all the accrued interest is capitalized) after 6 months; your loan will be due at some point the following month (not necessarily one month after the deferment ends). My deferment ended on Dec. 11 and I had a loan payment due Jan. 5.



Thanks so much! exactly what I was trying to figure out :D

Mind sharing your graduation date for comparison purposes?

ToTransferOrNot
Posts: 1928
Joined: Thu Jan 22, 2009 12:45 am

Re: paying back grad PLUS/stafford loans (first due date)

Postby ToTransferOrNot » Wed Apr 18, 2012 7:09 pm

ASM11 wrote:
ToTransferOrNot wrote:
ASM11 wrote:I know that you can get a 6 month grace period on these loans. I'm wondering if anyone knows the specifics. Does the first payment come due on the dot 6 months after the day of graduation? Ie, if I graduate May 15 will my first payment be due November 15th?

My start date might be later than I thought and I'm trying to get a feel for exactly when my first chunk of loan payments will come due. If anyone has any info on this, and the flexibility of changing due dates/extending the deferral period beyond the 6 months, this info would be greatly appreciated.

Thanks!


The deferment ends (and all the accrued interest is capitalized) after 6 months; your loan will be due at some point the following month (not necessarily one month after the deferment ends). My deferment ended on Dec. 11 and I had a loan payment due Jan. 5.



Thanks so much! exactly what I was trying to figure out :D

Mind sharing your graduation date for comparison purposes?


June 11.

ASM11
Posts: 15
Joined: Fri Aug 20, 2010 1:07 pm

Re: paying back grad PLUS/stafford loans (first due date)

Postby ASM11 » Thu Apr 19, 2012 8:59 am

thank you so much :mrgreen:




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