Parent Plus Loan terms?

[cjcouple]

I took a parent plus loan for my sons freshman year. I don't think we will need another. Does anyone know if the 10 year loan term is after graduation or immediate upon distribution?

I understand the interest is immediate. I can't find my loan terms on my servicer website/account.

I'm paying interest now FWIW. anyone know whereto find out this information or have experience? thanks

[plutosmoon]

It depends. You can request that the loan be deferred while your student is still in school, if I remember correctly the studentaid.gov application allows you to request this up front. If you didn't request it, payments start as soon as it fully disbursed. You can call your servicer and ask if you already have the deferment in place, or you can request one with them. Deferred loans still accrue interest, so you get interest statements regardless.

[cjcouple]

Yes it's deferred but we are paying interest anyway so it doeant grow.

I just didn't know if it means my loan payments after graduation will be divided by 6 years or 10.

[plutosmoon]

Ahh, I misunderstood. it'll start at 10 years once repayment begins after graduation. Deferrment periods don't count towards the 10 year period.

[cjcouple]

ok, perfect. thats what I was wondering. thank you!