The repayment of student loans can begin to occur immediately after taking out the loan. Usually student can defer payment while they are attending school and for six months after their schooling is complete. If a student drops below full-time attendance during their education they will be permitted to start making payment. One may gain a deferment by having outstanding issues such as economic hardship, financial crises or military deployment. Choosing a time to repay your loan must be measured and balanced with ones financial situation.