You may have heard that if you take out a student loan, you will potentially have a grace period before you have to start making payments back. This is true for some, but not all loans. Grace periods are meant for students to regroup and continue saving money in order to make their upcoming monthly student loan payments.
Grace periods are typically six to nine months long, but vary depending on your loan provider. Using this time wisely will help you stay focused and prepared for making your monthly payments, and we have an article with ideas for utilizing this time in the best way possible that you can find here.
It can certainly be easy to want to ignore your student loans during this period, but it’s better to plan ahead and create a budget. Don’t hesitate to ask your college financial aid office or parents for help with this. They may have invaluable resources and experience to help guide you.
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