When do I need to start paying my private student loans?

Some private loans require payments while you are in school. Other private loans let you delay your first payment for a period of time – called a “grace period” – similar to the feature offered by most federal student loans. Contact your loan servicer for more information or refer to your original loan documents.

TIP: If your private student loan offers a grace period, ask if the interest accrued during that time will be capitalized – added to the principal balance – when the grace period ends, and repayment begin.