Grace Period

When you leave school, or drop below half-time status, the student loans you have borrowed will enter a grace period.  This is a period of time where no payments are required.

There are no pre-payment penalties on any of the Federal Loans or Institutional Loans offered through Brown.  This means borrowers may begin early if they choose and pay the loan in full early with no penalties. 

Interest does not accrue on most loans during school or grace period.  The Unsubsidized Stafford Loan and PLUS Loan are the exception to this, and interest does accrue during this time.  Making payments during a grace period is a good way to reduce the overall loan balance since payments are applied directly toward the principal balance for any subsidized loans (Subsidized Stafford, Perkins, and all Brown University Institutional Loans).

Loan Program
Grace Period
Federal Stafford Loan
6 months
Federal PLUS Loan
None*
Federal Perkins Loan
9 months
Brown Univerity Loan (POL)
6 months
Ellwood Loan (M05)
6 months
Kaplan Loan (M04)
6 months
Casperson Loan (M02)
6 months
Medical Loan (M03)
6 months
Plitt/Anderson Loan (M06)
6 months
Tarandi Loan (M07)
6 months
Primary Care Loan (P10)
12 months
Loans for Disadvantaged Students (D10)
12 months
Urban Education Loan (UEP or UET) 4 months

See details of Repaying your Loans.