financial first steps

Before Repayment Starts

Graduates are often surprised when they add up the total amount they owe on student loans. This figure may be much larger than expected and can affect a person’s job choices and life for years to come. It’s also important to know when you will have to start paying back your student loan. Which of these is true?

1. All student loans have the same repayment grace period.
2. Six months is the time period when most student loans come due.
3. The date repayment begins varies from loan-to-loan.

“C” is correct. Different loans involve different grace periods. This is the time that’s allowed before you must begin repaying what you owe.

In the next module, we'll learn more about grace periods and other student loan features.

Continue to "Managing Student Loans"