After you graduate, leave school, or drop below half-time enrollment, you have a six-month grace period before you must begin repayment.
During the grace period on a subsidized loan, you don’t have to pay any principal and you won’t be charged interest. In contrast, during the grace period on an unsubsidized loan you don’t have to pay any principal but you will be charged interest. You can either pay the interest or it will be capitalized.
After you graduate, leave school, or drop below half-time enrollment, your lender will send you information about repayment and notification of the date it will begin. However, you’re responsible for beginning repayment on time even if you don’t receive this information. Failing to make payments on your loan is likely to have a negative effect on your credit rating.
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