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

Unlike federal student loans, each private loan has its own repayment process.

Some private student loans require payments while you are in school. Others let you delay your first payment for a period of time – called a student loan grace period. 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 added to the principal balance when the grace period ends and repayment begins.

Learn more about strategies for repaying private student loans.