A grace period is the 6 months period after the borrower either graduates or falls below half time enrollment, after which he/she has to start repaying the loans. This period generally begins the day after graduation, withdrawal or dropping below half time enrollment.

If a student withdraws or resigns from classes for a semester the grace period will start, however upon reenrollment within the 6 months, the grace period will reset and a new 6 months grace period will commence upon graduation or dropping below half time.