How to Handle Your Student Loan Grace Period

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Student Loan Grace Period Do's and Dont's

For certain types of student loans, there is a phase in which students are able to make interest-only payments (or no payments) after graduating and completing their program. This time is seen as a "grace period" where students can dedicate their time to securing a source of income prior to going into full repayment. This presents a great opportunity where financial commitment is somewhat postponed - but that doesn't mean it shouldn't be top-of-mind.


Be sure to find out the exact formation and terms of your loan before applying, to avoid any future surprises. Make sure to ask questions before you sign any paperwork!

When it comes to Skills Fund loans, whether or not you have a grace period on your loan depends on the type of loan you apply for. To find out, visit the FAQs on your specific school's Skills Fund website.


After you've completed your program, now is the time to find the perfect place to spend your days working (unless, of course, you've already secured employment). Ramp up your resume, start networking, and see where your new skills take you.

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- Utilize Career Services. One of the many things that make bootcamps stand out from the rest of higher ed is the focus placed on student outcomes. Every bootcamp has at least one team member who is dedicated to getting you into a career you'll love. That career support expands past the time of your actual bootcamp. More and more bootcamps are linking up with local companies to staff their technology departments, and you could be the next great talent they find.

- Take the time to figure out exactly where you want to work. Are you interested in a nonprofit? Startup? FORTUNE 500 company? Look at the values of the companies you already admire, whether it's their mission, innovation, or well-rooted history.

- Network, apply, and follow-up! Utilize the connections you've built while in your bootcamp. See if you can reach out to past graduates and inquire about open positions within their organizations. Go to any and all "matchmaking" or networking events.

- Utilize your budget. If you've planned correctly, you've budgeted enough to keep living comfortably during your post-bootcamp job search.

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- No payment doesn't mean no responsibilities. Now that you have a bit more free time, temptation might arise: vacation time? Lavish meals? New pair of skiis? But keep in mind that you will need to start making full repayments soon.

- Don't forget to make payments. Set up your account to make auto-payments if you haven't already. For Skills Fund loans, you'll find your account at


Skills Fund is on a mission to provide as many capable students as possible with a transformative education by removing financial barriers. With some Skills Fund loan types, students benefit from a two-month grace period where they make Interest-Only payments. Students are able to keep their eye on the prize!

Further reading:

Guide to Student Loan Refinancing

5 Habits of Financially Successful People

After-Bootcamp Budgeting Tips