Student loan?
Favorite Answer
OK with that new info then here is what I found:
When do my parents begin repaying the loan?
Generally, the first payment is due within 60 days after the loan is fully disbursed. There is no grace period for these loans. Interest begins to accumulate at the time the first disbursement is made. Your parents must begin repaying both principal and interest while you’re in school.
This was from the government’s website regarding student loans here: http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp?tab=funding
They cannot defer the payments but they can get a forebearance. With a forebearance, they can elect to make interest only payments or no payments at all but the interest will still accrue on the loan. The lender can grant a forebearance if there is a hardship of some sort. They should contact the lender for more information.
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