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Can I take out a student loan and repay it after getting a job?

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Is it possible to take out a student loan that I can start paying back only after I get a job? Will interest starts accumulating the day I get the loan.

Usually you have to start paying your student loan within 6 months after you graduate or drop below half-time enrollment. The federal student loans usually come with a 6-month grace period. However, for a PLUS student loan, the repayment starts just after the full amount is disbursed. But, you can always ask for a different repayment term for your loan. Discussing always helps, that's what I believe.

Sub: #1 posted on Thu, 03/05/2020 - 23:49

Mabelle Page Mabelle Page

(Posts: 295 | Credits: )

No. If you have taken out the federal student loan the interest rate will start accumulating after 6 months from finishing your graduation.

The general federal rule says it is not possible to start paying back the student loan only after getting a job as you have read in the first line. But you can discuss it on a personal level with the federal authority about your concern.

Good luck!

Sub: #2 posted on Fri, 03/06/2020 - 05:14

Ryan Miller Ryan Miller

(Posts: 249 | Credits: )

Well, most of the student loans in our country have a grace period of 6 moths. That means, most likely, you won't have to make payments until 6 months of your graduation. And no interest will be accumulated during that period.

Sub: #3 posted on Tue, 03/10/2020 - 21:13

Craigh.terry Craigh.terry

(Posts: 273 | Credits: )

Most student loans come with a 6 months grace period. This includes Subsidized Federal Stafford Loans, Direct Subsidized Loans, Unsubsidized Federal Stafford Loans, and Direct Unsubsidized Loans. Most private student loans also have a 6-month grace period. When you're looking for a job, try to get recruited in the following companies as they provide student loan repayment assistance:

Penguin Random House

Sub: #4 posted on Tue, 03/10/2020 - 21:47

Nick Jonas Nick Jonas

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ARe you talking about federal student loan? If yes, then you need to start repay the debts after 6 months of your graduation completion.

Sub: #5 posted on Fri, 03/13/2020 - 03:37

Sanders Patricia Sanders Patricia

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