Educational Loans : Grace Period Is Coming to a Close for Class of 2015

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Educational Loans
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Grace Period Is Coming to a Close for Class of
2015 
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• If you graduated this spring, you will likely
  have to begin making regular payments on your
  student loans soon.
• Most student loans offer a grace period where
  you dont have to pay anything on your loans for
  six months. The grace period is designed to give
  you some breathing room to find a job before you
  start repayment. However, once that period is
  over, you will have to start making regular
  payments. But there are a few exceptions to
  extend your period

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• Back to school If you reenrol in school at least
  half-time before the end of your grace period,
  you usually will receive the full six-month grace
  period when you stop attending school or drop
  below half-time enrolment.
• Active duty military If you are called to active
  military duty for more than 30 days before the
  end of your grace period, you will receive the
  full six-month grace period when you return from
  active duty.
• For many student loans, interest is still
  accruing during your grace period.

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• Interest accruing during the grace period means
  that it is over, you will have a larger loan
  balance than before the period. Typically,
  lenders, including Common Bond, will allow you to
  make payments during your grace period if you
  want to help reduce the added cost of that extra
  interest.
• Considering refinancing your student loans to a
  lower interest rate? Some lenders, including
  Common Bond, will allow you to refinance your
  student loan to a lower interest rate during the
  grace period, while still honouring the period by
  not requiring you make a payment until it is
  over.

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So what should you do when your grace
period expires?

• First, gather all the basics on all your student
  loans How many of your Educational Loans will
  enter repayment and when, your account numbers,
  your current monthly payment schedule and your
  loan servicers contact information. Youll need
  this information to start making payments to your
  current lender.

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• Second, answer these five simple questions to
  pick the right refinancing and consolidation
  student loan for you.
•  
• Still have questions? Visit on
  http//www.avanse.com/avanse-education-loans/
•  
• Remember, the end of your grace period doesnt
  mean you cant start shedding your student debt
  gracefully.
• Source https//commonbond.co/blog/grace-period-i
  s-coming-to-a-close-for-class-of-2015/

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