Comments on: Understand and Navigating the Six-Month Grace Period on Federal Student Loans

By: Michael Lux

Michael Lux — Wed, 07 Aug 2013 04:23:40 +0000

In reply to Digital Personal Finance. I think the grace period can be very helpful for people looking for work, but people should be aware that they are not getting a free ride during this time.

By: Digital Personal Finance

Digital Personal Finance — Wed, 07 Aug 2013 03:40:56 +0000

That’s a great point about the interest. I paid my grad school loans, or started paying them off I should say, beginning with the 6 month mark. I took advantage of the grace period, but in reality it helped because my job didn’t start until a few months afterward. Nevertheless, it’s a great idea that people know about interest starting right away.

By: Michael Lux

Michael Lux — Mon, 05 Aug 2013 11:18:34 +0000

In reply to Untemplater. That is a fair point. Even if not paying the bill is helpful, it is still very important to be aware that your balance grows with each day that you put of paying your student loans.

By: Untemplater

Untemplater — Mon, 05 Aug 2013 06:30:04 +0000

The six month grace period made such a difference for me. I was so worried about all the debt I had when I graduated b/c I had to pay half of my tuition and fees. And having that extra time to relocate and find a job first really helped. Every little bit makes a difference.

By: Michael Lux

Michael Lux — Sun, 04 Aug 2013 17:58:53 +0000

In reply to Pauline. I couldn't agree more Pauline. The term "grace period" is so misleading.

By: Pauline

Pauline — Sat, 03 Aug 2013 12:10:49 +0000

I thought most grace periods on student loans were not accruing interest. That is sneaky.
One more reason to pay them asap.

By: Michael Lux

Michael Lux — Sat, 03 Aug 2013 01:47:41 +0000

In reply to Eric. That was really smart Eric. I wish I would have been paying down my loans since day one.

By: Eric

Eric — Fri, 02 Aug 2013 14:58:45 +0000

I completely ignored the grace period and kept on trucking. I had started paying day one while in school, so it was just the norm for me to be paying when I graduated.