Student Loans and Taking a Semester Off | 12.11.09

Posted in Graduate Loans, Repayment By Kristin Morris

Semester OffDid you know that if you decide to take a semester off from school your federal student loans go into repayment right away? That is right! You will get a six month grace period after your student-status drops below half-time even if you plan on eventually returning to school.

For example, say you leave school in December and plan to take the spring semester off. After a six month loan grace period you will have to start paying you loans back. You will have to make payments throughout the summer but, if you decide to go back to school in September you can apply for in-school deferment and hold off on making additional payments until you graduate. Just remember that you will have already used up your six month grace period so you will have to start making payments on your original loans right away.

This holds true for graduate and undergraduate students! So think twice before you decide to relax for a few months. It might be more stressful than you think!


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