Can I end my grace period or In-School Status early?

While many people try to avoid having to start paying their loans at all costs others can’t wait to start.  These people are those who are primarily in the public service field and wants their payments to begin counting towards Public Service Loan Forgiveness.

They are so excited they want to end their in school status or their grace period early.  The question is are you able to.

Answer: no never and sometimes

You are never never ever able to end your In-School Status early.  This is awarded to you by the Department of Education and cannot be taken away for any reason.  Now if you aren’t trying to make qualifying payments for PSLF (because while in school these payments would not count for PSLF) then you should still make payments as you are definitely allowed.  In fact you would be amazed at how beneficial it will become to simply make some payments while in school (we will cover this later but hint–it has to do with interest!)

But now on to grace period.  This rarely can be ended early but now there is an exception.  If you consolidate your loans you have the option of cutting your grace early.  This will allow you to enter repayment as soon as your consolidation is completed but stay in your grace until that process (which usually takes 1-2 months) is completed.  If you are interested talk to your servicer or begin the application yourself by visiting