To allow new graduates time to transition and settle their finances before they have to make their first payment towards their loans, many loans have a grace period before student loan repayment begins. A student loan grace period is a set amount of time during which you will not be required to make a monthly payment on your student loans. Most federal student loan payments will be paused during a grace period of 6 to 9 months, but many private loans do not offer the same advantages.