NSL grace period
A grace period of nine months begins on the first day of the month you cease to be a full-time or half-time student pursuing an eligible course of study. During this time interest does not accrue on the loan and repayments are not required. Time spent in eligible deferment status does not alter the grace period.
If you cease to pursue an eligible course of study, but reenter the same or another school of nursing within the grace period, the grace period is not considered to have begun. The repayment period does not begin until you have been away from an eligible course of study continuously for the full duration of the nine month grace period.
When you transfer from one nursing school to another eligible nursing school within the grace period, you must file a Certification of Deferment Status form, with the first school from which you received a Nursing Student Loan in order to maintain your student status until you cease to pursue an eligible course of study at any school of nursing. The procedures for filing this form are discussed in the section on NSL deferment.