QuestionIf I take a leave of absence, do I have to start repaying my loans?
Not right away. As you likely know already, student loans have grace periods of 6 or 9 months (Stafford and Perkins, respectively) during which loan payments are not required. Usually this grace period comes into effect upon graduation, however extenuating circumstances may arise. When you take a hiatus from school, your grace period will start running from the date of your leave. So, if a student takes a 3-month break from school and they have a Stafford Loan with a 6-month grace, they will have only 3 of those initial 6 left as a post-graduation grace period. Repayment is required when all grace time is exhausted.