You should have a plan that would keep you on track to pay back your loan on time and in full before repayment begins.
Should I contact my loan servicer if I am struggling to make payments?
Yes, it is a wise decision to contact your loan servicer if you are struggling to make your payments.
What is the grace period for federal student loans?
For federal student loans the grace period is after you graduate, leave school, or drop below half-time, you would have a six month grace period and sometimes 9 months for Perkins Loans.
Do I really have a grace period of six month?
Yes, you have a six-month grace period before you have to start paying back your student loans and nine months if you have a Perkins Loan.
What loan servicers are used to make payments to?
The US Depatment of Education has many loan servicers that handle the billing and other services on loans for William D. Ford Federal Direct Loan and for loans that will made under FFEL and ED purchased.
Did you set up automatic monthly debit payments for your loan from your checking or savings?
No, I have not set up automatic payments.
Do you send your payment by mail?