Newly Grad /// Do we need to pay SCHOOL LOAN now?

[haisha]

I graduated last year from US dental school, and currenly doing my GPR @hospital.
My salary is low (and you know that!!) --- I can not pay SallieMae anything yet.
When I started my GPR, I filed a form stating that I am doing GPR (and a letter from our program director attached) to SallieMae.

They accepted.

My understanding was, I have a 12 months grace period from my graduation PLUS 6 more months.....total of 18 months grace period.

I didn't pay anything until now because I thought it's been taking care of.
Now......they want me to start making a payment
It's a LOT for someone who is doing GPR......

I just wanted to know if everyone who graduated last year is in the same situation.

Thank you.

---

Members don't see this ad.

 

[dr37]

when did u graduate?
u have 12 months after graduation to start making payments. if you are in residency then your loans get defered for another year. so an year after the GPR is when you HAVE to start payments.

 

[sleeplessinsf]

I graduated last year from US dental school, and currenly doing my GPR @hospital.
My salary is low (and you know that!!) --- I can not pay SallieMae anything yet.
When I started my GPR, I filed a form stating that I am doing GPR (and a letter from our program director attached) to SallieMae.

They accepted.

My understanding was, I have a 12 months grace period from my graduation PLUS 6 more months.....total of 18 months grace period.

I didn't pay anything until now because I thought it's been taking care of.
Now......they want me to start making a payment
It's a LOT for someone who is doing GPR......

I just wanted to know if everyone who graduated last year is in the same situation.

Thank you.

Are you sure you have 12-months of grace in addition to 6 months? A lot of loan places want you to use up the grace before they grant you a forebearance, so if you went to GPR immediately after graduation you should still be in grace, if not, depending on when you graduated your grace might be over.

Loan companies have their own forms that you need to fill out, most likely some kind of residency forbearance. It is not a deferrment because GPR is hospital based and not a school based residency so you don't qualify for educational deferrment. Get the right form signed by your program director and that should stop the clock. For forbearance the interests keep accruing even though you don't need to make payments.

I was in residency for 3 years and in forbearance the whole time and did not have to pay. I only had 6 months of grace which they forced me to use at the beginning of my residency before my forbearance can start, so I had to start making payments immediately after I graduated residency since all grace was used up.

 

[haisha]

Thank you so much for the reply.

I graduated last year, 2012.
I started my GPR 2 months after my graduation.
Looks like I need to find out more information.....I will contact them & make sure I didn't do any mistakes when I filed their forms.

If I find out more, I will post here again.
Thank you for taking time to reply