If you are a cosigner on a loan with the student as the primary borrower, a few repayment options may be available to allow you to defer payments while the student is attending school. For more information on repayment options available on cosigned loans, please refer to this article.
If you have applied for, or are planning to apply for, a Parent Loan, you will be the primary borrower and will be required to make payments while the student is in school. If you have selected or plan to select the interest-only repayment option, you will only be required to make interest-only payments while your student is enrolled and for 9 months following graduation. After this grace period, or if the student drops to less-than-half-time status, you will be required to make the full minimum principal and interest payments.
If you have selected or plan to select full payments of principal and interest, you will be required to make full payments of principal and interest for the life of the loan, including while the student is in school. This option will not include a nine-month grace period.
For more information on repayment options available on Parent loans, please refer to this article.