This practice ensures that you won't have to repay the loan if you don't begin classes or if you withdraw during the first 30 days of classes. These amounts are the maximum yearly amounts you can borrow in both subsidized and unsubsidized FFELs or Direct Loans, individually or in combination. You'll be notified any time the variable rate changes. During this period, you will receive repayment information, and you'll be notified of your first payment due date. You are responsible for beginning repayment on time, even if you don't receive this information.
Payments are usually due monthly.