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

Yes, there is a grace period after graduation before you have to start making payments on student loans in Wisconsin. After graduating or dropping below half-time enrollment, you are given a grace period of six months before you must begin making payments. During this six months, you may receive important information and counseling from your loan servicer. This important information will provide you with the resources necessary to begin making payments on your loan. During the grace period, you may also apply for deferment or forbearance of your loan payments. A deferment is when your loan payments are temporarily stopped or reduced while in school or for certain other reasons. A forbearance is when your loan payments are temporarily stopped or reduced due to reasons like illness. In order to qualify for either of these options, you must meet certain requirements set by the federal student loan program. It is important for you to remember that during the six-month grace period, interest will continue to accrue on your loan. You may choose to pay the interest during the grace period so that it does not get added to the principal balance. When the grace period ends, you will need to begin making payments on your student loan. It is important that you carefully review and understand the terms and conditions of your student loan before you begin making payments so that you do not fall behind.

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

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