managing student loans

When Grace Periods End

The first payment on Stafford loans is usually due six months after you graduate or fall below half-time enrollment. Perkins loans have a nine-month grace period. PLUS loans allow you to either begin repayment 60 days after receiving the funds or to wait until six months after you graduate or drop below half-time enrollment. How can you find out the grace period on a private loan?

1. Ask your college financial aid office.
2. Check with the lender for the student loan.
3. Assume it's the same as for Stafford loans.

"B" is correct -- or check your loan agreement. Figure out when your grace period will end on each of your loans and plan accordingly. Missed or late payments will negatively affect your credit score and long-term relationship with lenders.