Is there a grace period after graduation before I have to start making payments?

Yes, there is a grace period available to borrowers who have taken out a student loan in the state of Kansas. After graduation, borrowers have a grace period of six months during which no payments are due. This period begins on the day after the student’s graduation date and continues for the entire six-month period. This grace period provides students with an opportunity to get their financial affairs in order before they must begin repayment of their student loan. Additionally, during the grace period, borrowers in Kansas are not responsible for paying any interest on their loans. However, interest can still accrue, meaning that if borrowers do not make payments, they will owe more than the amount they originally borrowed. This is why it is important for borrowers to make the necessary payments during the grace period, if possible, to avoid interest or additional costs. Students in Kansas should also be aware of the loan repayment options available to them. Depending on their individual circumstances, there may be deferments, forbearances, or income-driven repayment plans available which could help reduce their monthly payments, or even forgive some of their loan balance. These options are best discussed with a financial counselor or student loan servicer before taking out a loan.

Related FAQs

What are the requirements to receive student loan deferment?
How much can I borrow in student loans?
How do I determine my credit score and eligibility for student loans?
Are there any grants or scholarships that can help with student loan repayment?
How do I consolidate my student loans?
How have recent changes in the law affected student loan repayment?
How do I repay my student loans?
Are there any tax advantages to repaying student loans?
Are there any grants or scholarships that can help with student loan repayment?
Are there any government programs that help with student loan debt relief?

Is there a grace period after graduation before I have to start making payments?

Related FAQs

Related Blog Posts