Student loans go into repayment six months after graduation or the last date of attendance. Parent PLUS loans begin repayment sixty days after the final disbursement for the year or parents can choose to defer repayment. Payments can be deferred until six months after the date the student ceases to be enrolled at least part time. Accruing interest can be paid monthly or quarterly or be capitalized quarterly. The grace period for private lenders varies by lender.