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When and how do I need to pay back my loans?

After you graduate, leave school, or are no longer enrolled at least half-time, you will have a six-month grace period before you are required to begin repayment.

During this period, you'll receive repayment information from your loan provider, and you'll be notified of your first payment due date. Payments are usually due monthly. Learn more about repaying your loan.

Never ignore delinquency or default notices from your loan servicer. If you don’t make your monthly loan payments, you will become delinquent on your student loan and risk going into default. Contact your servicer immediately if you are having trouble making payments or won't be able to pay on time.

Find out what may happen if you default, what steps you can take to keep your loan from going into default and what your options are for getting out of default by visiting Student Aid.

How much will I need to pay?

Your payment depends on:

  • the type of loan you received
  • how much money you borrowed
  • the interest rate on your loan
  • the repayment plan you choose

What are the current interest rates?

The interest rates for Direct Subsidized Loans and Direct Unsubsidized Loans can be found at the Student Aid website.

For comparison, Interest rates for Sallie Mae can be found here

Repayments plans

For more details on different repayment plans please visit Student Aid

Can I defer my loan?

For more information on loan deferment please visit Student Aid's deferment page