I'm confused about my loan payments?

[berbe01]

<p>I was looking at loan repayment plans and I'm not sure what to do.
I dont work right now, but when I start school in September I'll be doing work study so I'll have an income.
Well, what I'm confused about is paying back my loan.</p>

<p>All of the repayment plans say there's a 6 month grace period after I graduate.
Does this mean I'm not required to start paying back my loan until I graduate?
But I've also seen pages say that payments are due as soon as my first loan is disbursed.
I'm going to pay them while I'm in school but I'm just worried because if I miss one payment, my loan is defaulted. And if that's the case then I would feel more comfortable paying it off after I graduate because I would be making more than 18k/year with my degree (hopefully), so I know I wouldn't miss a payment.
If it matters, the only loan I have out right now is a direct subsidized loan</p>

[Erin_s_Dad]

<p>

Does this mean I’m not required to start paying back my loan until I graduate?

Yes. If you have UNsubsidized loans then the INTEREST will accrue while you’re in college. While my DD was in school I paid her interest to keep her loan to just the principle. You can arrange to do that, too.<br>
<a href=“http://www.direct.ed.gov/inrepayment.html”>http://www.direct.ed.gov/inrepayment.html&lt;/a&gt;&lt;/p&gt;

[4kidsdad]

<p>

If it matters, the only loan I have out right now is a direct subsidized loan

The direct sub. loans do have 6 month grace period. See <a href=“https://studentaid.ed.gov/types/loans/subsidized-unsubsidized#when-repay”>https://studentaid.ed.gov/types/loans/subsidized-unsubsidized#when-repay&lt;/a&gt; Also please note:

The U.S. Department of Education pays the interest on a Direct Subsidized Loan</p>

<p>○ while you’re in school at least half-time,
○ for the first six months after you leave school (referred to as a grace period*), and
○ during a period of deferment (a postponement of loan payments).</p>

<p>*Note: If you receive a Direct Subsidized Loan that is first disbursed between July 1, 2012, and July 1, 2014, you will be responsible for paying any interest that accrues during your grace period. If you choose not to pay the interest that accrues during your grace period, the interest will be added to your principal balance.

</p>

[BrownParent]

<p>You will likely need the money you are earning for your living expenses, so you probably will not be able to make loan payments. Realize that even with the COA covered, there is always some need like clothing and sometimes additional travel expenses or your laptop breaks down during the 4 years–you need money for that and a little in the bank for emergencies. You can start paying your loan after you graduate and you will be fine.</p>