Not sure if this is the right place for this question but this seems the best place to me. So after I graduate (with a Bachelor's degree) my loans require repayment after a 6 month grace period. One option I have with that is to defer the loans (make it so I don't have to pay back right away) and one of the satisfactory requirements for defering a loan is to be in a Graduate Fellowship Program. My question is: is this the same as being a graduate student? Is this something that you have while being a graduate student? Through all this I'm just wondering if I can take a year off, get a job just to take a break from school. My grace period will end during this time. I'm wondering if I start graduate school that the loans will be deferred again or if I'll still be required to pay them back while in graduate school. Typing this all out makes me realize this is probably best answered by the financial aid office at my school but it can't hurt to ask you guys.