The interest rate is adjusted each year on July 1. During this grace period, you do not have to make payments on the principal balance and no interest is charged for a Subsidized Stafford Loan. For an Unsubsidized Stafford Loan, payment of principal is not required during the grace period, but interest will be charged. There are many flexible payment options for these loans. These payment options are designed to make it possible for you to repay your loans even when special circumstances make it difficult.
Deferments are also available.
You should check with the Brown Loan Office about the requirements for a deferment. For more information, review the U.S. Department of Education's Student Guide. The Student Guide is available on the Internet and in booklet form at the Office of Financial Aid. The interview is an informational session at which you will learn your rights and responsibilities as a borrower. You also have an opportunity to ask questions about loan terms, debt management and repayment.