Find out exactly when your first loan payment is due after graduation. Enter your graduation date, loan type, grace period length, loan amount, and interest rate to see your first payment due date, total interest accrued during the grace period, and your estimated monthly payment.
First Payment Due Date
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Grace Period Ends
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Interest Accrued During Grace Period
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Balance at Repayment Start
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Estimated Monthly Payment
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Total Amount Repaid
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A grace period is a set amount of time after you graduate, leave school, or drop below half-time enrollment during which you are not required to make loan payments. For most federal Direct Loans, this period is 6 months. It gives you time to find employment and get financially settled before repayment begins.
Your grace period starts the day after you graduate, withdraw from school, or drop below half-time enrollment status. For example, if you graduate on May 15, your grace period typically begins May 16 and runs for the defined number of months before your first payment is due.
It depends on your loan type. Federal Direct Subsidized loans do NOT accrue interest during the grace period — the government covers it. Federal Direct Unsubsidized loans, PLUS loans, and most private loans DO accrue interest during the grace period. Any unpaid interest may be capitalized (added to your principal) when repayment begins, increasing your total balance.
You are not required to make payments during the grace period, and you won't face penalties for not doing so. However, for unsubsidized or private loans, interest continues to accumulate. Making voluntary interest-only payments during the grace period can prevent that interest from being capitalized, saving you money over the life of the loan.
Parent PLUS loans do not have an automatic grace period — repayment typically begins 60 days after the loan is fully disbursed. However, parents can request a deferment while the student is in school and for 6 months after. Graduate PLUS loans follow the same 6-month grace period as other Direct Loans.
You generally cannot extend the standard grace period, but if you re-enroll in school at least half-time before it ends, it pauses and you receive the remainder of your grace period when you leave school again. You can also request a deferment or forbearance once repayment begins if you face financial hardship.
Your monthly payment is calculated using the standard amortization formula based on your loan balance at repayment start (which may include capitalized interest), your annual interest rate, and your repayment term. The formula ensures equal monthly payments that cover both principal and interest over the full term.
Federal loans offer several repayment plans: the Standard 10-year plan, Graduated (payments start low and increase), Extended (up to 25 years), and income-driven plans like IBR, PAYE, and SAVE that cap payments as a percentage of your discretionary income. Your servicer can help you choose the best plan for your situation.