Will my daughter have to begin paying back her student loan if she takes one semester break from college?
My daughter is attending community college and will earn an Associate of Arts degree after her first semester. She has been granted a federal loan. She wants to attend a four-year college in the fall to continue her pursuit of a teaching degree. She would like to skip a semester of college this spring and transfer to another college in the fall of 2019. Will she have to start paying back her student loan in the spring, or can she pay back the loan after she has received her Bachelor's degree in education?
Here's the general rule with federal student loan payments. There is a 6-month grace period will all federal student loans. She shouldn't have to start making payments as long as she stays within that grace period. If, however, she goes beyond that grace period, or her enrollment for the fall semester falls below half-time, she'll have to start making payments.
So as long as she stays within that 6-month window and enrolls for more than half-time status, she'll be able to defer payments until she graduates. At which point, she'll have another 6-month window before she'll need to commence payments.
All that said, check the terms of the loan for specific details, as I may have missed something that's specifically stated in the loan documents.
I hope this helps!