2007-01-19 18:11:32 · 5 answers · asked by Babar R 1 in Education & Reference ➔ Financial Aid
It depends on the loan type, but most of the time they give you a six months grace period, and you have to start paying.
2007-01-19 18:15:52 · answer #1 · answered by ♥♫i♥bloo♫ 5 · 0⤊ 0⤋
It depends on who issues the loan. If you got a loan directly from the school check with the financial aid office. If your loan is actually from the federal government, most likely you'll pay 6 months after graduation or leaving school. If the loan is subsidized, you won't accrue interest while in school. If it's unsubsidized, you'll collect interest on the loan while in school. It's easy to defer for lack of employment or financial hardship too.
2007-01-20 02:16:35 · answer #2 · answered by emilyjohnson21 3 · 0⤊ 0⤋
Federal loans are to be paid back six months after you graduate. However, if you drop you start to pay them back right away. Personal loans vary depending on the banking institution. If you go back to school you can have the loans deferred.
2007-01-20 02:20:40 · answer #3 · answered by jules12413 1 · 0⤊ 0⤋
the answer is simple.... it does not matter if it is cash til pay day or a car loan or a student loan..... you pay it back when you agreed to pay it back.... the will lend you money to go to school and when you are done, they expect to get paid back..... there are forbearance's and other factors that you should discuss with the loan officer, but before you sign, read and understand what it means!
2007-01-20 02:19:44 · answer #4 · answered by who be boo? 5 · 0⤊ 2⤋
you have to start paying it back 6 months after you graduated if you had subsidized loans. if not, you have to start paying them back immediately. with the previously mentioned laon, sometimes you can get defers after graduation if things are tough at that point.
2007-01-20 02:16:03 · answer #5 · answered by Anonymous · 0⤊ 0⤋