Where you stand

Last verified Oct 17, 2026

You’re about to make your first payment

You’ve left school or dropped below half time and your grace period is ending.

1. 1 What you can pick

   • Loans paid out before July 1, 2026 only: RAP, IBR, Standard, Graduated or Extended.
   • Any loan paid out on or after July 1, 2026: RAP or Tiered Standard, for all your Direct Loans.
   • If you don’t choose, you are placed on Standard (or Tiered Standard if you have a newer loan).

2. 2 What each costs

   Your payment depends on your income, household and balance. Compare the plans with your numbers

3. 3 What to do next

   • Grace period: six months after you stop being enrolled at least half time; the first bill is due within 60 days of the start of repayment.
   • Find your servicer in your StudentAid.gov dashboard under “My Aid”, and make sure it has your current contact details.
   • Auto pay cuts your interest rate by 1 point through June 30, 2028 if you enroll by Dec. 31, 2026; on RAP it also keeps you on time for the interest waiver.

Read more

• When your first payment is due, and the key dates through 2028→
• Borrowed on or after July 1, 2026? You have two plans, for all your loans→
• How federal student loan interest works→
• The 1% auto pay interest rate cut: who gets it and until when→

Not financial or legal advice. This page sums up the published rules for this situation. It can’t account for your full loan history; your servicer and StudentAid.gov have your actual record.

Official sources

1. 34 CFR 685.207, obligation to repay and grace periods (current eCFR)
2. Public Law 119-21 (H.R. 1, signed July 4, 2025), Title VIII, Secs. 81001–82004
3. StudentAid.gov: SAVE Plan Borrowers – FAQs About Choosing a Different Repayment Plan (October 2026)
4. U.S. Department of Education press release, Sept. 29, 2026: enrollment period extended
5. 34 CFR 685.208, fixed payment plans including Tiered Standard (current eCFR)
6. 34 CFR 685.209, income-driven repayment plans (current eCFR, as amended May 1, 2026)
7. StudentAid.gov: One Big Beautiful Bill Act – Important Definitions (updated Aug. 24, 2026)
8. StudentAid.gov: Interest Rates and Fees for Federal Student Loans
9. 34 CFR 685.202, interest and capitalization (current eCFR)
10. 34 CFR 685.211, payment application, prepayment and loan rehabilitation (current eCFR)
11. U.S. Department of Education press release, June 18, 2026: auto pay interest rate reduction