Mike Davies
March 2017

Grace Period

A period of time that begins the day after the borrower either graduates, leaves school, or drops below half-time enrollment. The grace period usually lasts six to nine months. During the grace period, the borrower isn’t required to make payments.


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Merriam-Webster Online Dictionary
grace period (noun)
a period of time beyond a due date during which a financial obligation may be met without penalty or cancellation
Mike Davies

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