What is the grace period situation with Direct Loans?

Question

I have a Federal Direct Loan from college and I'm graduating with my BA in psychology in August, but may have to wait a year before I get into graduate school, since I'm not really sure about online grad school. Since I may be out of school for longer than the six month grace period in between, would I have to start repaying my loan before and during the time I'm in grad school? I don't really know how any of this works, but I'm a bit worried. Any information would be appreciated. Thanks.

Answer 1

The grace period is 6 months.  Provided you have not already used it.  My professional recommendation would be to allow your grace period to almost completely expire and then request a deferment if eligible, or a forbearance if deferment is not an option.  Make sure to make any interest payments you can.

Hope this helps!