On a traditional certificate, the period of time following the due date of a required premium during which the certificate remains in force as if the premium had been paid. On a Universal Life certificate, this period begins on the date the accumulated value is insufficient to pay the current monthly deduction. The period is typically one month long on a traditional certificate and 61 days on Universal Life.
means a period of (30) days after the date on which the applicable premium is due (Premium Due Date) and during which period premiums may be paid without a loss of benefits under the Member's applicable plan.
the time between January 1st and Opening Day, the day of the year's first hit, during which late lists are accepted without penalty, and last minute changes and/or substitutions for Conservative Picks may be accepted at the discretion of the editor.
The grace period is a short period of time during which you may not be required to begin repaying your loan. If the principal and interest for your Brazos HELP Undergraduate, Graduate, or Continuing Education loan are deferred while you're in school, you may receive a grace period of 180 days (6 months) after the deferment period before you begin repayment. Note: However, the interest does continue to accrue during the grace period.
31 day-period after the premium due date during which the premium may be paid. The policy remains in force during this time.
A short period during which cover under an annual policy may be extended beyond its expiry date to allow for the payment of a renewal premium. The privilege will be lost if the insured rejects the proposed renewal terms, by his actions or words. There are no grace periods in motor or marine insurance. Also see Days of Grace
The time period where payment is not required on a debt.
The period that begins the day after a loan recipient ceases to be enrolled at least half time and ends the day before the loan repayment period starts. Some loans have a grace period so that repayment doesn't begin until several months after graduation. Grace periods are specified in your promissory note.
A period of six to nine months after the end of the in-school period but before the beginning of the repayment period.
Submenu The grace period is a short time period after graduation during which the borrower is not required to begin repaying his or her student loans. The grace period starts the day after a borrower ceases to be enrolled at least half time. Depending on the type of loan, you will have a grace period of six months (Direct Loans) or nine months (Perkins Loans) before you must start making payments on your student loans. The PLUS Loans do not have a grace period. During the grace period for Federal Direct Unsubsidized loans, interest must be paid or it will be capitalized.
The period of time a quota's soft limit can be exceeded as long as the hard limit is not exceeded.
A nominal period before or after a scheduled start or stop time during which employees may arrive or depart and still be paid from the scheduled start or stop time. Unless restricted by union contract, the grace period defined in the Time Reporting System is seven minutes.
The grace period is the number of days credit card companies allow you to pay for a charge without paying any interest. If you have not made payment during the grace period, you will begin to be charged interest. Most credit card companies have a grace period between 20 and 25 days.
An agreed-on time after an obligation is overdue during which a party can perform without being considered in default.
Prescribed period of time after the premium due date during which the coverage remains in force and the late premium may be paid.
The number of days (31 in most cases) a life insurance policy will remain in force when a payment is overdue.
The number of days in which you can pay in full without being charged interest. Some cards do not offer a grace period. Check your credit agreement.
The first stage in the domain expiration process. A grace period is a limited amount of time that a registrar allows to have a domain renewed once it has expired.
The additional period of time a lender or insurance policy issuer provides for a borrower to make payment on a debt without penalty. see also cure period, forbearance.
a period of time when the borrower does not have to make a payment on the loan. Grace periods begin when students graduate, stops attending school, or drops below half-time attendance.
The time between an insurance policy's premium due date and the date the policy will lapse if the premium remains unpaid. Typically, grace periods are 30 or 31 days, and no interest is charged on premiums paid during that time. A grace period protects insureds and their beneficiaries from having the policy terminate inadvertently.
The six-month period after you either graduate or leave school. Loan payments are not required during your grace period, although interest on your loan begins to accrue during this period.
A period of time after you cease to be enrolled in college at least half-time but before you start repaying your student loan.
Typically describes the time you have before a credit card company starts charging you interest on your new purchases -- usually a period of 20 to 25 days. But this "free ride" on finance charges does not work the same way on all credit cards. In fact, on most credit cards, you will be charged interest on your new purchases immediately -- unless you have paid off your credit card in full the previous month.
A time period when a premium is due but the insurance is still in force.
A grace period is a time frame that a payment can be received in after the payment is actually due and there not be a late fee.
The period between the time you leave school or drop below half time and the time you're obligated to begin repayment.
The span of time allowed before principal repayment of a Federal Stafford loan must begin after graduating or leaving school.
The period between the time you leave school (or drop below half-time status) and the time when you must begin repaying your loan.
A specified period of time that a policy owner has to pay renewal premiums without the policy being lapsed (canceled).
The time between the mortgage payment due date and the date when late charges are assessed.
An agreed-upon time after an obligation is part due during which a party can perform without being considered in default.
Graduated call writing Graduated lease
A period allowed for late payments without penalty.
A specified period between the time the student leaves school or drops below half-time study and the time loan repayment begins.
The normal time period allowed paying a bill without default and avoiding interest.
The period of time given for the payment of an overdue premium without causing a policy to lapse. The policy remains in force during this interval.
In most cases, student loans offer a grace period, a period of time immediately following separation from school during which the borrower is not required to begin repayment. This period allows the borrower to find a job and establish a budget before repayment begins. Federal Stafford Loans offer a 6-month grace period; Federal Perkins Loans and University Loans offer a 9-month grace period.
Time allowed a debtor in which legal action will not be undertaken by the creditor when payment is late.
The "interest free" number of days which an issuer gives between the date of your transaction and the date your bill was created. A grace period is usually between 20 to 25 days. If your card includes a grace period, the issuer must mail your bill at least two weeks before the payment due date so you have sufficient time to arrange payment to be made.
The span of time allowed before principal repayment of a student loan must begin after graduating, leaving school, or dropping below half-time status.
The period of time, usually 30 or 31, days after the premium due date, where the premiums may still be paid with out interest charges and the policy will remain in force. If the insured dies during the grace period, the beneficiary will receive the death benefit less any premiums that are due.
The amount of time after the 24 hour period that you are allowed to bring your car rental back to the rental agency without being charged for an extra day. Most car rental companies will allow at least 30 minutes. Check with your supplier once you reach the rental counter as it varies by company.
The specified period of time between your graduation date and the date loan repayment begins. If you drop below half-time status before graduating, the grace period applies.
The period of time when a borrower is no longer enrolled as a student prior to repayment of a loan. The length of the grace period is determined by the type of loan.
A period of time in most loan contracts and insurance policies during which default or cancellation will not occur even though payment is due. This term also refers to the number of days (typically 25) between when a credit card bill is sent and when the payment is due without incurring interest charges.
The time allowed to pay your balance without being charged a finance charge. Usually 25 to 30 days.
The time between leaving school and when you have to begin making payments on your loans.
TWP's terms are net 15 days, but we allow a "grace period," or mailing period, through the 25th of the month for Early Stop accounts or through the last business day of the month for accounts on standard credit terms.
The period after the payment due date during which the borrower can pay without being hit for late fees.
The length of time a borrower is granted before the first payment is due. Grace period may refer to the time between check disbursement and the first payment if immediate repayment is required, or the length of time from the end of a deferment period to the first payment.
A specified period after a premium is due on an insurance policy during which the policyholder may still make a payment (commonly 30 days). The policy remains in effect during the grace period.
The defined length of time allowed before repayment of a loan begins after the borrower has terminated student status or ceases to qualify for a loan. Interest does not accrue during a grace period. The grace period for a HPSL loan is one year. The grace period for a NSL loan is 9 months and begins on the 1st day of the month nearest to the date the borrower is no longer a student. Close
Grace Period (Free Period) is a period of time when you are not charged any interest for new purchases made with your credit card. Knowing whether a card gives you a free period is especially important if you plan to pay your account in full each month. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. The standard Grace Period is usually between 20 to 30 days. Important: If your required payment does not reach the credit card issuer by the due date, the Grace Period may be waived and you may be charged interest starting the date your purchase was posted.
The length of time that begins when a loan recipient graduates or ceases to be enrolled on at least a half-time basis and ends when the repayment period starts, or, in some loan programs, the period of time when a deferment ends and loan payment is scheduled to resume. Loan principal need not be paid and interest does not accrue during this period.
A time lapse between a student's graduation and the beginning of loan repayments (usually six to nine months).
The period (usually 1 month) following the premium due date, during which an overdue premium for a life insurance policy may be paid without penalty. The policy remains in effect throughout the grace period.
Time frame following the due date on an account for the payment to be received without penalty.
A feature of Federal Stafford loans that gives you six months after you leave school or drop below half-time status before you must start making monthly payments on your loan.
Period of time during which a borrower is not required to make payments on a student loan. Grace periods can last as long as 6 months, and normally begin after the student is no longer enrolled at least half time.
The length of time between the use of credit to make a purchase and the start of interest on the amount charged.
John Hancock plans include a 30 day grace period. This means that payment of your premium must be received by the 30th day after the date it is due. If your premium is not received by the end of the grace period, a written notice of termination of coverage will be sent to you by first class mail. You may also designate another person, like an attorney or a family member to receive a notice to protect you from an unintended lapse in coverage.
A specified period between the time borrowers leave school or drop below half-time status and the time they are obligated to begin repaying their loans.
The period, usually 30 or 31 days after the due date, during which an overdue premium may be paid without penalty, and the insured will remain insured.
The specified time period allowed to correct any default.
After borrowers graduate, leave school, or drop below half-time enrollment, loans that were made for that period of study have several months before payments are due. This period is called the "grace period." Grace periods extend from 6 to 12 months after borrowers leave school: Most FFEL and Direct Loans have 6-month grace periods. Perkins Loans have grace periods of either 6 or 9 months, depending on when the loan was first disbursed. Health professions loans have grace periods of 9-12 months. During the grace period, no interest accrues on Subsidized loans. Interest accrues on Unsubsidized loans during grace periods, and this interest is capitalized when borrowers' loans enter repayment. Borrower's repayment periods begins the day after the grace period ends. First payments will be due within 60 days after the repayment period begins. Each loan has only one grace period. If borrowers return to school after the grace periods has expired, the borrowers' loans qualify for deferment while borrowers are enrolled but return to repayment after borrowers leave school. There is no additional grace period.
The number of days before a credit card issuer starts to charge interest on a newly made purchase - usually twenty to twenty-five days.
The reasonable length of time allowed by programmatic specification for postponed payment of loans for which a borrower incurs no loss or penalty. Some loans enter repayment immediately following the borrower's graduation; others have a grace period so that repayment does not begin until several months after graduation.
A short period of time that an insurance policy stays in effect after payment of premium was due. Debtors sometimes mistakenly think this period also applies to the payment of other types of debts.
A period of time after a premium becomes due in which you can still pay for the insurance and keep it in force. Wisconsin law requires that for health insurance it is 7 days for weekly premium policies, 10 days for monthly premium policies, and one month for all other policies.
The length of time allowed by program specification when borrowers are no longer in school but do not have to begin repaying their student loans. Some loan programs have no grace period; others may not require repayment to begin for several months.
a period of time in which payments of the principal on a mortgage are deferred. During this time, interest only will be payable on the loan.
A period of days during which a debtor may cure a delinquency without penalty (before triggering a late charge, a foreclosure or an acceleration of the balance due).
A Grace Period is the number of days past the premium due date the premium will be accepted before canceling the policy for non-payment of premium. A typical grace period is 30 days.
The period after an automatically renewing time deposit, such as a certificate of deposit, matures. During this time you may withdraw funds without being charged a penalty.
A period of 30 days after the due date, during which a premium may be paid without penalty and keep the policy from lapsing.
Stafford loan repayment begins six months after leaving school, graduating, or dropping to less than half-time enrollment.
The period of time between when you graduate, leave school, or drop below half-time enrollment and when your loan repayments begin. For Federal Direct Loans, the grace period is six months; for Perkins Loans, nine months.
The time between the transaction date and the billing date in which interest does not accrue on the balance owing.
Period of time after the premium payment due date that the policy remains in force without penalty. After the due date, the individual loses the insurance coverage and typically would have to apply again for new coverage.
The time between the billing date and when finance charges will begin to accrue. Grace periods now range from 15 to 25 days. Under most credit card plans, the grace period applies only if you pay your balance in full each month. The grace period does not apply if you carry a balance forward, nor does it apply to cash advances.
Applicable to coverage already in force, a grace period is a specified time (usually 30 or 31 days) following the premium due date during which a past due premium may be paid without penalty and the coverage remains in force.
Period of time during which a policyowner may pay an overdue premium without causing the policy to lapse.
A period of time during which no payment is required.
The length of time (usually 31 days) after a premium is due and unpaid during which the insurance contract remains in force. If a premium payment is made during the grace period, it is considered to have been paid on time.
The period of time when a mortgage loan payment may be made after the due date without incurring late fees.
Life insurance policies provide a grace period of a specified period of time following the premium due date. If the premium is paid within this period, the policy continues in effect, and if death occurs, the premium overdue is deducted from the Death Benefit. If payment is not made by the end of the grace period, term insurance policies terminate. In Canada, the period is typically 31 days.
The period after a borrower leaves school (or attends less than half time) and before the time the borrower is obliged to begin repayment. Some loan programs have no grace period; others may not require repayment to begin for several months.
A 5 Day grace period is added to 30 days in determining Active status. The effect is a month that has actually 35 days.
The period before the borrower begins repaying the loan or offer a payment due date before a late charge is imposed.
The period between the time a borrower leaves school or drops below half-time status and the time he/she is obligated to begin repaying his/her loan(s). The grace period is usually six or nine months, depending on the type of loan.
Specified time (usually 31 days) following the premium due date during which insurance remains in force and a policyholder may pay the premium without penalty.
A time period after the purchase of an item, usually 20-25 days, before which interest begins to accumulate on the credit extended for that item. Practically speaking, it means that users who pay their card balance in full each month can avoid interest payments. For these users, a credit card with no annual fee can be a convenient alternative to cash purchases.
if a card does not carry a balance, the grace period is the interest free time that a lender allows between the transaction date and billing date. The standard grace period is usually between 20 and 30 days. If no grace period is present, finance charges will accumulate the moment a purchase is made using the credit card. If you carry a balance on your credit card, you have no grace period.
The period before interest begins to accrue on new purchases.
A specified extension of time beyond the due date for payment of a debt.
A time period during which a borrower can pay the full balance of credit due and not incur any finance charges.
The period, normally 30 days, during which an insurance policy remains in force even though the premium has not been paid.
A period of 30 days or less during which the Department will provide payments to secure or maintain a child care arrangement and employment or activity is scheduled to begin or resume within that period.
The time allowed to pay your credit card bill without being billed a finance charge and/or late fee. It is usually 10-28 days.
The period of time after a student graduates, falls below half-time enrollment status, or withdraws from school, and before loan repayment begins. Loan payments are deferred during the grace period. The grace period for Education Finance Partners' loans is six months. Details regarding the grace period are outlined in the promissory note.
The number of days between a statement due date and the payment due date during which you do not incur finance charges. Back to Glossary Index
A period of usually 30 or 31 days following each insurance premium due date except the first, during which an overdue premium may be paid. All policy provisions remain in force during this period.
If you don't’t carry a balance there’s period that the lender doesn’t charge you interest on the amounts you’ve charged. It’s usually between 20 and 30 days. If you are carrying a balance there is no grace period and you start accruing finance charges at the same time you make a purchase.
A period defined in the policy during which an overdue premium may be paid after the premium due date without penalty. The policy remains in force throughout this period.
An agreed upon time after obligation becomes past due within which a party can perform without being considered in default.
The period of time that begins when a student borrower ceases to be enrolled at least halftime (6+ credit hours) and ends when the repayment period begins. Loan principle need not be paid and, generally, interest does not accrue during this period.
The amount of time before which additional interest, late fees and/or penalties are imposed for receipt of a loan payment beyond its due date.
The period of time given to crrect a default.
A time period, often 31 days, during which the insured may still pay premiums without having to show proof of insurability. Claims, less premiums due, would still be paid. p 163
The time between leaving school and when payment is to begin on the loans.
Life insurance premiums are due on a certain date, if you are late in paying, policies allow a period of time where you can still pay your premium and not lose your polcy. This is the grace period. Most policies allow a grace period of 30 days from the due date. After the grace period, if the premium is not paid, the policy can lapse i.e. be terminated by the insurance company.
The period of time before you start making payments, yet the interest is still accumulating.
The amount of time before you have to pay your bill in full before you get charged interest at either a fixed or variable APR rate. Normally the grace period is about 30 days but can be as high as 60 days depending on when your goods or services were purchased. How much time you have for your grace period will be clearly set out on your statement. Note when you withdraw cash you normally have no grace period as interest starts accruing from that date often at a higher rate than using your card to purchase goods
A period of time from the expiration of the current year's credentials until the date that new credentials are required to be displayed or enforcement action could be taken.
Specified period of time after a student graduates or leaves school during which loan payments are not required.
Is a period of time (usually 31 days) after a premium is due and unpaid during which the policy, including all rider will remain in force. If a premium is paid during this period the payment will be considered to be on time and no interest will be charged. () ()
is a period of time when you are not charged any interest for new purchases made with your credit card. For example, if your purchase is posted (recorded by the credit card issuer) on June 1 and the Grace Period on your credit card is 22 days, the interest charges do not start accumulating for that purchase until the end of the Grace Period, which means until June 23. In this way, you can use your credit card interest-free if you always pay your balance in full by the required date. However, if your required payment does not reach the credit card issuer by the due date, the Grace Period may be waived and you may be charged interest starting the date your purchase was posted, that is in this example June 1 not June 23. If your credit card has no Grace Period, the credit card issuer may apply interest on your purchases starting the day you made the purchase. See your cardholder agreement for details about the Grace Period as specified by your card issuer.
The period of time allowed before loan payments must begin. This grace period is granted in the first six months after a student either graduates, leaves school or reduces enrollment status to less than half time.
A specified period, usually 30 days, for the payment of a renewal premium after the original premium due date. The coverage remains in effect during the grace period if the premium is paid before the grace period expires.
A period of time in which a lender does not charge interest.
A period of time after you leave school during which no payments for your student loans are required. Grace periods are not available for all loans and are detailed in your promissory note.
When used with a credit card, grace period is the length of time that you are allowed to pay off the debt without incurring finance charges. Our VISA and MasterCard® products have 25 day grace periods that allow purchases to be paid off without being charged interest. Cash advances start accumulating interest from the day the advance is made.
A 6- or 9-month period granted to a student after a separation from school and before repayment begins.
The period of time that begins after a borrower graduates, withdraws or drops below half-time enrollment status and ends when the repayment period starts.
Time period for an insured to change his/her mind about the sale of his/her policy benefits
The number of days from your statement date during which no additional finance charges will accrue on your purchases if your new balance is paid in full by the due date. Cash advances may not have a grace period and accrue finance charges from the day of the advance.
The period of time past the due date for a payment during which time the payment may be made and not considered delinquent.
For credit cards, the grace period is the number of days a card company allows you to pay for a charge without paying interest. If you do not pay during the grace period, you will begin to pay interest. Most card companies in the U.S. have a grace period of between 20 and 25 days. For student loans, grace period is the number of months after you graduate or leave school that the lender allows you to defer loan payments. When the grace period ends, you must begin to repay the loan.
A six- or nine-month period before the borrower enters repayment, after graduating or dropping to below half-time or full-time status.
A single uninterrupted period of time when the borrower leaves school or drops to less than half-time status before the repayment of a Federal Stafford Loan begins. During the grace period, the lender begins preparing for the borrower to enter repayment.
Graduates Grants Gross income
The number of days after your premium due date in which it can still be paid without cancellation. Long-term care policies provide a 65 day grace period.
When a person graduates or drops below half-time study they have (6) months before they are obligated to begin repaying their Stafford loan(s); this is a called a grace period. For Perkins Loans and Nursing Student Loans the grace period is (9) months. Health Professions Student Loans and Loans for Disadvantaged Students have a (1) year grace period. PLUS loans do not receive any grace period.
The short time period after graduation during which the borrower isn't required to begin repaying his or her loan; six months for Stafford loans, nine months for Perkins loans. There is no grace period for PLUS loans.
The time period after a borrower leaves school or drops below half-time enrollment during which he/she is not required to make payments on a student loan. The duration of the grace period for Stafford loans is 6 months. Grace periods on private loans vary.
the period of time between the date you leave school (or drop below half-time status) and the date you begin repayment.
The period of time between the billing for goods or services and the time at which payment is due or interest is assessed
The period after the premium due date and before the policy lapses, usually 30 to 31 days, during which an insurance contract is in force and the premium may be paid without penalty.
The period that begins after a Stafford loan borrower ceases to be enrolled at least half-time at an eligible school, ends the day before the repayment period begins, and during which payments of principal are not required. For a borrower with a Stafford loan that has not yet entered repayment who also has an SLS loan, the grace period for the SLS loan is the equivalent of the grace period for the Stafford loan if the borrower requests grace on his or her SLS loan(s).
The time period between the borrower's last day of enrollment and the day repayment begins.
The time in which a mortgage payment can be made after its due date without incurring a late fee.
A period of time during which you are allowed to pay your credit card bill without being charged a finance and/or late fee. This period is usually 10-28 days.
A period of time when a loan payment may be paid after its due date, and not incur a late penalty. Such late payments may be reported, and impact your credit report.
The length of time after the payment due date that a lender or other creditor will allow a monthly payment to be paid without charging a penalty.
A period of time allowed by the insurance company for late payments. If you have a thirty-one day grace period, it means your policy is still in force even if you are a month late on your payment.
Additional time allowed to perform an act or make a payment before default occurs.
A grace period is the period of time (after the due date of the loan payment) that the borrower has without incurring a late penalty.
Period of time (usually 15 days) after a mortgage payment is due in which the lender will not charge a late penalty or report the payment as late.
A short period after graduation/separation from school during which the borrower is not required to make student loan payments. See “forbearance,” “deferment,” and “service obligation.
The period during which a loan payment can be made after its due date without incurring a late penalty.
In relation to patents, this means the period before the filing of a patent application in which, in certain circumstances, public disclosure of an invention will not affect the validity of a subsequent patent (in Australia a complete application must be filed within 12 months of the disclosure but where a grace period is provided in other countries the time allowed and other conditions may be different).
The period between the time the borrower leaves school and begins repayment of a student loan. On federal student loans, the grace period is six months.
Specified period of time between the date a student graduates or drops below half-time status and the date loan repayment begins.
A specified period of time, between the date a student graduates or ceases attending classes, or fails to take the required number of classes for a specific financial aid program, and the date loan repayment begins.
The time - usually 31 days - during which a policy remains in force after the premium is due but not paid. The policy lapses as of the day the premium was originally due unless the premium is paid before the end of the 31 days or the insured dies. This is not a "free-insurance" period.
The period of time between when the student ceases at least half-time study and when the student must begin to repay the loan in regular monthly installments. Grace periods may be either 6 or 9 months depending on when the loan was originated.
The period of time following graduation (or leaving school) before you have to begin making payments on the loan.
The period of time immediately after a student either graduates, leaves school, or drops below half-time attendance. Loan repayment must begin at the end of the Grace Period. .
A period of 30 or 31 days after the premium due date when the insured can pay the premium and keep the policy current while the policy remains in force.
The time period stipulated in most loan contracts and insurance policies during which a late payment will not result in default or cancellation.
The period of time following the premium due date (after the first due date) during which the insurance remains in force and payment of the premium may be made without having to reinstate the certificate. This is usually 31 days.
An agreed-upon number of days after a payment's due date before it is considered late. When the period has passed, a late fee, if specified, will be assessed.
A period of time (commonly 30-31 days) after premium-due date during which a policy remains in force without penalty even though the premium due has not been paid.
A specified amount of time during which a loan payment may be made after its due date without incurring a late penalty. Each mortgage lender sets its own Grace Period policies.
After you graduate, leave school, or drop below half-time enrollment, you have six months before you begin repayment. This is called a "grace period".
The time lapsed between a student's graduation (or termination) and the beginning of loan repayments (usually six to nine months).
A period during in which a debtor may cure a delinquency without a penalty. HUD-1 Uniform Settlement Statement- A closing statement or settlement sheet that outlines all closing costs and details on a real estate transaction. Interest- The cost of using borrowed money. Judgment- The decision of a court. If a court decides that a person must repay a debt, a lien may be placed against that person's property.
The period of time after the payment date during which the borrower can make a loan payment withhout incurring a late penalty.
This is the period of time following the premium due date, during which an overdue premium may be paid without penalty and the insurance policy remains in force.
If payment of the new balance is received in full by the payment due date, no additional charge will be imposed on the purchase portion of that new balance during the billing period.
The six-month period immediately following a student’s enrollment during which interest continues to be paid by the federal government and the student does not have to begin repayment.
If you have a credit card, a "grace period" means the period of time your issuer doesn't charge you interest on purchases. Be sure to read the fine print, though. Some credit card issuers give you a grace period only if your account is paid up and doesn't have a balance carried over from the previous month.
A period of 20 to 30 days between the transaction date and the billing date when the transaction can be paid off without interest.
A certain amount of time (typically 10-28 days) during which a cardholder is allowed to pay his/her credit card bill without being charged a finance or late fee.
A period of time granted to loan borrowers during which no payment of principal is due. After you graduate, leave school or drop below half-time you enter a grace period. This grace period is usually six months (check with your lender). You only get one grace period.
The period between the date of the credit card billing statement and the date payment in full must be received before interest begins to accrue on purchases.
The period of time before the borrower must begin or resume repaying a loan or debt.
The period after a student either graduates, leaves school (unofficially or officially), or drops below half-time before loan payments must begin.
The time period between the due date of a mortgage payment and the date when late charges are assessed.
Period of time during which a loan payment may be made after its due date without incurring a late penalty. The grace period is specified as part of the terms of the loan in the Note.
A specified period after a premium payment is due.
A period of time specified in the policy, during which a late premium can be made before the policy is canceled. This is usually (but not always) 31 days.
The grace peirod is the time the issuer gives you to pay off the new balance before assessing finance charges. It's often measured from the close of the billing cycle to the payment due date. Under most credit card plans, the grace period only applies if you pay your balance in full each month.
The period of time after the due date of a loan payment in which payment can be made without a late penalty.
If the credit card user does not carry a balance, the grace period is the interest-free period of time a lender allows between the transaction date and the billing date.The standard grace period is usually between 20-30 days. If there is no grace period, finance charges will accrue the moment a purchase is made with the credit card. If you have a balance on your credit card you have no grace period.
The time between the due date and the past-due date of a loan during which there is no late charge. If a payment is still not received after the grace period (usually 10-15 days), the lender will assess a late charge on the overdue amount. The borrower is technically in default after the grace period expires.
The period between date of signature of loan agreement and date of first schedule payment of principal.
The period of time between a premium's due date and the date the policy will lapse if the premium is still unpaid (usually 30 to 31 days). If the insured dies during the grace period, the unpaid premium is deducted from the policy proceeds.
The grace period is the time between the statement date and the payment due date, and is determined by the credit card issuer. The grace period usually varies between 15 and 26 days and is part of the interest-free period. The grace period may not apply unless you meet certain conditions.
A period of time beyond the due date for premium payment (usually 31 days), during which time a policyholder may still remit the premium payment without losing coverage.
Most life insurance contracts provide that premiums may be paid at any time within a period varying from 28 to 31 days following the premium due date, the policy remaining in full force in the mean time. If death occurs during the grace period, the premium is deducted from the proceeds payable. As a general rule, no interest is charged on overdue premiums if paid during the grace period.
a period of time granted to loan borrowers during which no payment of principal is due. After you graduate, leave school or drop below halftime enrollment you enter a grace period. This grace period is usually six months (check with your lender). Each student is given one grace period by his/her lender.
delaying principal repayment until some specified future date without a penalty
A period of time , often about 25 days, during which you can pay your credit card bill without incurring a finance charge.Just about every issuing bank applies this grace period only if you pay your balance in full every month.It does not apply if you carry a balance forward and usually will not apply to cash advances.
The time between a credit card's billing date and next due date, during which you can avoid interest charges by paying your balance in full.
A period after the premium due date, during which an overdue premium may be paid without penalty. During this time, there is no lapse in coverage and the policy is still in force.
A period beginning the day the borrower ceases to be enrolled at least half time and ending the day repayment begins. The grace period usually lasts for six months.
A period of time during which a depositor can withdraw funds from a certificate without being penalized.
A grace period is the period of time you have without a finance charge on new purchases if the total new balance is paid in full each month by the payment due date noted on your periodic billing statement.
The period between the time a borrower leaves school or drops below half-time and the time they are obligated to begin repaying their loans - usually six or nine months, depending on the type of loan.
A period of time after a borrower graduates, leaves school, or stops attending school at least half time, during which the borrower does not have to make principal payments on a loan.
Period of time when a borrower leaves school or drops below half-time and the borrower is not obligated to begin repayment of his/her loans - usually six or nine months.
A period of time that starts when you cease to be enrolled at least half time and ends when the repayment period starts. You do not have to make loan payments during the grace period.
A period after a premium payment is due, in which the policyholder may make payments and during which the policy remains in force.
The time between the rental renewal date and the date when late charges or reinstatement fees are charged. Rental companies, either by law or by business practice, sometimes give customers a few days to make a rental renewal payment before charging a late or reinstatement fee.
The period of time after the date the premium is due during which the policy remains in effect without penalty.
Period of time after the due date of a premium during which the policy remains in force without penalty.
The period (usually 30 or 31 days) following the premium due date, during which an overdue premium for a life insurance policy may be paid without penalty. The policy remains in force throughout this period.
The period of time after a premium becomes due in which you can still pay for the insurance and keep it in force. Vermont law requires health insurers to give you at least 14 days' notice before canceling a policy because you failed to make the payment by the regular due date.
The time interval at the beginning of a call, measured in seconds, that is not billed. SaHaR IT Clearing Fee and Routing Fee do not apply to the grace period.
A period in which late payments can be made without penalty (usually fifteen days).
The time in which you can pay off all new purchases without incurring finance charges. Typically, if you do not pay off your entire bill, all new purchases begin accruing finance charges immediately.
Length of time (usually 31 days) after a premium is due and unpaid during which the policy, including all riders, remains in force.
The period of time between the contractual due date and the date a late charge will be assessed.
A period of time during which you are not required to make payments on a debt.
A short time period after graduation during which the borrower is not required to begin repaying his or her student loans. The grace period may also occur if the borrower leaves school for a reason other than graduation or drops below half-time enrollment. Depending on the type of loan, grace periods vary from six months (Stafford Loans) to nine months (Perkins Loans) before resuming payments. PLUS Loans do not have a grace period.
A period of time after a due date not subject to late charge or cancellation penalties.
The amount of time allowed before principal repayment of loan must begin after the student graduates, leaves school or drops below half-time status.
The period allowed to avoid any finance charges by paying off the balance in full before the due date.
A specified number of days following the due date of a premium within which an employer or individual may submit premium payments without penalty. If payment is not received by the expiration of the grace period, coverage may be terminated by the health plan.
A period of time, often about 25 days, during which you can pay your credit card bill without incurring a finance charge. Under nearly all credit card plans, the grace period applies only if you pay your balance in full each month. It does not apply if you carry a balance forward. Also, the grace period usually does not apply to cash advances, which may begin accruing interest from the day of the transaction.
An agreed upon time after an obligation is past due when a party can perform without being considered in default.
The time a borrower is allowed after a payment is due to make that payment without incurring penalties.
The prescribed period in the life insurance contract, normally 30 to 31 days from the due date, during which the insurance contract is in force and the premium may be paid.
The time between when you make a charge on your credit card and when that amount starts building interest. The grace period varies between 15 and 26 days and is part of the interest-free period. Under almost all credit card plans, the grace period only applies if you pay your balance in full each month. It does not apply if you carry a balance forward. The grace period does not apply to cash advances.
A period of time when the borrower is not required to make payment on the loan (length of time is tied to the terms of the promissory note).
the time, usually about 25-28 days, which you have to pay a bill or a loan in full. If you pay within the grace period, you do not have to pay a finance charge.
A specified period of time before the first payment must be made on a loan. Typically, the grace period starts the day after a borrower ceases to be enrolled at least half time.
A period of time during which a loan payment may be paid after its due date but not incur a late penalty. Such late payments may be reported on your credit report if they are more than 30 days past due.
Length of time (usually 30 days) after a premium payment is due and unpaid. During the grace period the policy (including all riders) remains in effect.
A time period allowed by creditors for repayment of a monthly obligation (usually 20 days) where a card user will not be charged interest for purchases made with credit if bills are paid on time.
A period of time for which a borrower is permitted to rectify a breach of a loan document.
The period of time after the student ceases to be enrolled at least half time and before full repayment begins.
The time allowed to avoid finance charges by paying off the full balance before the due date.
The grace period is a short time period after graduation during which the borrower is not required to begin repaying his or her student loans. The grace period may also kick in if the borrower leaves school for a reason other than graduation or drops below half-time enrollment. The grace period for a Stafford Loan is for six months.
The time period that begins the day a borrower no longer qualifies for loan deferment at a postsecondary educational institution: the date of graduation, or the last day of attendance, or the date a student's enrollment drops to below half-time status. The grace period is six months for Federal Stafford Loans, subsidized and unsubsidized, and nine months for Federal Perkins Loans. During the grace period, repayment of loan principal (and, in some cases, interest) is not required.
A short time period after graduation during which the borrower is not required to begin regular repayment of their student loan. The typical grace period is six or nine months depending on the type of loan program.
The amount of time that the policyholder has to pay a late premium, usually 30-31 days, during which time the insurance is in force.
The period of time after the due date before a penalty is charged.
If you pay your bill on time, you don't get charged interest on your purchases (see APR). This interest-free period of time is called the grace period.
The period between the time a borrower leaves school or, if in school, drops below half-time and the time he/she is obligated to begin repaying their loans. Depending on the type of loan, this is usually six or nine months.
A period of the time in which a borrower can pay off the full balance of their credit account without incurring additional finance charges.
An amount of time (usually one month) after the life insurance policy's premium due date, during which the policy continues in effect when the premium due is not paid. Many policies which have cash values also provide an automatic premium loan provision, in which part of the cash value is used as a loan to pay the premium due, thereby keeping the policy in force for a longer period. Most state laws require a grace period in life insurance policies.
The date by which any credit extended for purchases must be repaid without incurring a finance charge.
A specified length of time within which a renewal premium may be paid without penalty.
The time period you have to pay a bill in full and avoid interest charges.
Car rentals are based on 24 hour periods, in which the rental supplier will normally allow a grace period after the 24 hours are up to return the vehicle, without being charged an extra day. Most rental companies will allow a grace period of 30 minutes to 1 hour. Be sure to check with the rental car supplier upon pick up, as it does vary by company.
The grace period is a six or nine month period after you leave school and before you must begin making payments on your student loans.
A period after the premium due date, during which an overdue premium may be paid without penalty. The policy remains in force throughout this period. HAZARD - A specific situation that increases the probability of the occurrence of loss arising from a peril, or that may influence the extent of the loss. For example, accident, sickness, fire, flood, liability, burglary, and explosion are perils. Slippery floors, unsanitary conditions, shingled roofs, congested traffic, unguarded premises, and uninspected boilers are also hazards.
A six-month period before the first payment must be made on a subsidized or unsubsidized Stafford loan. The grace period begins the day after the borrower ceases to be enrolled at least half time.
The specified period after a premium payment is due, in which the policyholder may make such payment and during which the protection of the policy continues.
A specific period of time after the student leaves school or is enrolled less than half-time during which he or she is not required to make loan payments. This period is intended to provide the borrower with time to find employment and prepare to repay the loan. The grace period ends 6-12 months after it begins, depending on the interest rate at which the loan is disbursed. The number of months allowed for the grace period is disclosed to the borrower at or before the disbursement of the loan. Parental Loans for Undergraduate Students (PLUS), and Consolidated loans do not have grace periods. Back to glossary main page
A period of time after an obligation is due during which a borrower can perform without incurring a penalty and without being considered in default.
A period after a premium payment is due on an insurance policy (but where a policyholder is late making the payment), during which the policyholder can make the late payment without losing the protection which the insurance policy provides.
Time frame in which loan payments can be made after due date without penalty.
The period during which a party may back out of a deal without being in default.
A period (usually 31 days) after the premium due date, during which an overdue premium may be paid without penalty. The policy remains in force throughout the period.
The time between the date of purchase and the time that purchase appears on your statement - applies only to accounts with no outstanding balance.
A prescribed period, usually 30 to 31 days from the premium due date, during which an insurance contract is in force and the premium may be paid.
An additional period of time, usually 31 days, granted in some types of insurance for the policyowner to pay the premium after it has become due. During the grace period, the coverage remains in force.
The period, usually 20 to 25 days, during which finance charges can be avoided if a balance is paid in full.
A formally specified extension of time beyond a payment due date.
A period of time after the regular due date of a loan payment during which a late payment penalty is not charged.
That period of time from the due date of a payment until the payment is recorded as late.
A specific period of time after the student leaves school or is enrolled less-than-half-time during which he or she is not required to make loan payments. The grace period is usually six to nine months,depending on the loan type. Supplemental Loans for Students (SLS), Parental Loans for Undergraduate Students (PLUS), and Consolidated loans do not have grace periods.
A time period, after maturity of a loan, by which one can act without penalty, i.e., as in making a loan payment or redeeming a time deposit.
A period (usually 30 or 31 days) following each insurance premium due date, other than the first due date, during which an overdue premium may be paid. All provisions of the policy remain in force throughout this period.
The period of time during which interest will not be charged on any purchases made. In the UK this is usually between 40 and 59 days. If the credit card account balance is settled in full for the total outstanding amount inside of this period no interest will be charged (see also Interest Free Period).
Generally, a six month period following a student's graduation or withdrawal from College. The grace period also begins however anytime a student drops below half-time status (six credit hours).
The six or nine month period between a Guaranteed Student loan borrower's last day of at least half-time enrollment and the day repayment of the loan begins.
Refers to the interest-free time that lenders allow between the transaction date and the billing date if card users do not carry a balance. The standard grace period is typically between 20 and 30 days. If there is no grace period, finance charges accrue immediately at the time of purchase. Those who carry a balance on their credit cards have no grace period.
There is the time between the date of the credit card purchase and the date the company starts charging you interest.
This is a period of time during which a borrower is not required to make payments on a student loan. Grace periods normally begin after the student is no longer enrolled at least half-time, and last from 6 to 9 months.
A time period within which a depositor can withdraw funds from a certificate without penalty.
A specified period after a renewal premium is due and unpaid during which a policy, including all riders, remains in force.
the interest-free period allowed between the transaction date and the billing date, if you pay off your account on time and in full. The standard grace period is normally between 20-30 days. Also known as 'interest-free period' or 'free period'.
The period of time following the premium due date in which the premium may be paid. The policy remains in force during the grace period.
A stated period over which an overdue premium may be paid without penalty.
A period of time in which a provider will allow you to go without making payments or charging you interest.
The specified length of time, after a Life or Health premium payment is due in which the insured may make the payment and keep the policy in force. (Usually 30 days.)
normally 31 days after a premium is due. Anytime during this period you can pay the overdue premium without providing any health evidence and put the coverage back in force.
A specified amount of time to make a loan payment after its due date without penalty.
Allows the parties a period of time in which to comply with the terms of the lease. This clause may specify the period of time in which the tenant must correct or "cure" a default in the rent.
The period of time allowed in a loan schedule during which repayments of the principal amount of the loan need not be made.
Amount of time subtracted from a call's duration, to account for inaccuracies in timing of calls ( used by hotels, etc.)
A specified period of time after the premium payment is due in which the insured may still keep the policy in force without penalty by making the payment .
The period of time after a loan or insurance payment due date before its cancellation or default due to non-payment.
If the credit card user does not carry a balance, the grace period is the interest-free time a lender allows between the statement date and the payment-due date. The standard grace period is usually between 20 and 30 days. If there is no grace period for new purchases, finance charges will accrue the moment a purchase is made with the credit card. People who carry a balance on their credit cards have no grace period.
The time interval at the beginning of a call, measured in seconds, that is not billed. IPCB.net IPCB.net Fee and Routing Fee do not apply to the grace period.
If you do NOT have an outstanding revolving balance on your credit card, a grace period is the interest-free time period between the date of your purchase and when the purchase appears on your statement. For example, if you pay off your balance in full on June 1st and then buy an item on June 2nd, you will not be charged interest for the time period between June 2nd and your next statement.
A feature of some credit card accounts that allows an interest-free period of time between the transaction date and the billing date. If there is no grace period, finance charges will accrue immediately when a purchase is made with the credit card.
A period that is usually 6 months after a student graduates or ceases to be enrolled at least half-time and before loan payments begin when no payments are due on the loan.
A time allowed, usually 15 days, for making late payments without a penalty.
a short time, generally six or nine months, after graduation during which the borrower is not required to begin regular repayment of their student loan.
The 31-day period immediately following the due date of all premiums except the first. The policy will continue in force during the grace period. If a premium is not paid by the end of its grace period, all coverage will end as of the premium due date.
The reasonable length of time that repayment of loans are postponed. Some loans enter repayment immediately following the borrower's graduation; others have a grace period so that repayment does not begin until several months after graduation.
The amount of time following the date the premium is due, during which the policy remains in effect, even though the premium has not been paid.
The period after a student either graduates or leaves school and before loan payments must begin.
The period of time, generally 20 to 25 days from the billing date of your last credit card bill to the due date of your current bill when you can pay in full without being charged interest. Some cards do not offer a grace period while others only have a grace period if there was no outstanding balance on the account at the end of the billing cycle. Generally there is no grace period for cash advances.
Segment of time in which no interest is charged.
A specified period (usually 10 or 15 days) after a regular loan payment due date during which no late charge or other penalty is assessed.
A period of time following an advance under a loan or other financing during which no principal is repaid.
The time between when a student drops below half-time enrollment and the time their loans enter repayment status. For Stafford loans, this period is 6 months, and for Perkins loans, 9 months.
A period of days between the transaction date and the billing date when a transaction can be paid off without incurring an interest charge.
This insurance term describes the period of time after the due date for the premium on the policy that it can be paid without penalty. The standard grace period is 30 days, but each company may have different conditions.
This is the time allowed for making late payments on a loan without penalty.
The period during which one party may fail to perform without being considered in default
A period of time when you're not charged interest for purchases you've made. For example, if the billing date on your credit card bill is May 1, you may have until May 25 to pay your balance in full. If you do, you will not be charged interest. If your payment arrives after May 25 – or if you don't pay the entire balance – you may be charged interest from the date of purchase as posted. Some accounts have no grace period, which means interest is charged on purchases from the date they are posted.
The period between an inventor's public disclosure of a product or process and the latest date on which the inventor may file a patent application without the prior disclosure precluding a patent being granted.
A grace period is usually a period of time from the due date of a mortgage payment until it's considered delinquent. Sometimes this period is 10 days.
Period of time after the student borrower graduates or leaves school during which he or she does not need to make principal or interest payments on certain kinds of loans.
A specified period of time between graduation and the time loan repayment begins for the borrower.
Period of time in which you can avoid finance charges by paying off the balance before the due date.
The period of time that begins when a loan recipient ceases to be at least half time and ends when the repayment period starts, or in some loan programs, between the time that a period of deferment ends and loan payments are scheduled to resume. Loan principal need not be paid and interest does not accrue during this period.
the amount of time past a due date when no legal penalties apply
is a period following the premium due date, during this period the premium may be paid. The policy stays in force during this period.
A pre-determined specified length of time, typically 20-25 days, during which you can pay your credit card balance without paying a finance charge. The additional period of time a lender provides for a borrower to make payment on a debt without penalty. Check with your card company to find out how long your grace period is, and whether it applies only if your balance is paid in full.
The period after the premium payment is due wherein the policy owner is generally given 31 days within which to make payment without jeopardizing the death benefit. Universal Life and Variable Universal Life policies may allow 30-60 days for additional funding premiums to be paid if there is insufficient cash value to sustain the policy during the monthly calculation of expense charges and policy credits.
The period of time which a loan payment may be paid after the due date but still not incur a late penalty. Any late payments may be reported on your credit report.
A specified period of time after you graduate, leave school or cease to be enrolled for at least six credits during which you are not required to make payments on student loans.
Period of time, beginning one day after your separation date, during which no payments are due and no interest is accrued.
Specified period of time after the borrower graduates or leaves school during which he or she isn't required to make principal payments.
The period of time in which the policy remains in force, without penalty, after the premium due date despite nonpayment of premium. The grace period will vary by policy. See Lapse.
The period during which the student, no longer in school full time, is not yet required to make payments on a federal student loan. The grace period is usually six months and begins when the student graduates, leaves school, or drops below half-time status.
Period of time between the mortgage payment due date and the date on which a late payment fee will be charged. This varies from lender to lender.
A specified period immediately following the premium due date during which a payment can be made to continue a policy in force without interruption. This applies only to Life and Health policies. Check your policy to be sure that a grace period is offered and how many days, if any, are allowed.
Time during which a lender doesn't charge interest on credit card purchases.
The period during which no repayments of principal (sometimes principal plus interest) are due from the borrower to the lender. With reference to public sector debt rescheduling, it indicates the period, usually of several years, during which no payments (either principal or interest) need to be made. See also rescheduling agreement. Français: Période de grâce Español: Período de gracia, período de amortización diferida
The 31-day period following the premium due date during which an overdue premium may be paid. All provisions of the policy remain in force during this 31-day period.
Additional time allowed to complete an action (e.g. make a payment) before a default or violation occurs.
A specified period after the regular due date of a loan payment during which no late charge or other penalty is assessed.
The Federal Program includes a 30 day grace period. This means that payment of your premium must be received by the 30th day after the date it is due. If your premium is not received by the end of the grace period, a written notice of termination of coverage will be sent to you by first class mail. You will have 35 days from the date of the termination letter to pay your premium, otherwise your coverage will end.
A specified period of time after a student leaves school or drops below half time status during which he/she is not required to make payments on either principal or interest. The grace period is typically six to nine months, depending on the type of loan.
The time period between a credit card account statements closing date and payment due date when no interest is charged. A grace period may range from 20 to 30 days and is only given when the previous months credit card statement is paid in full. Most balance transfers and cash advances do not have a grace period.
The length of time before any payment of interest or principal on an outstanding loan becomes due.
Time lapse that follows the premium due date when the coverage and policy legally remain in force.
Thirty days after the premium is due before the policy lapses.
A period of time after the student leaves school during which no payments for student loans are required. Typically, the grace period on Stafford Loans is 6 months and a PLUS Loan is 60 days.
The period of time following the due date of a policy premium during which the payment of the premium will continue the policy and during which the policy is in full force and effect
A grace period is a period of time that begins the day after a Stafford borrower ceases to be enrolled at least half time and ends the day before the repayment period must begin. During the grace period a borrower is not required to make payments on a student loan. There is a grace period for federal Stafford loans, but federal PLUS loan borrowers begin repayment immediately after the final disbursement is made. Grace periods on private education loans can vary by lender.
a period following the premium due date during which payment of the premium may be made without penalty or suspension of coverage.
A period of time past the due date for a payment during which a payment may be made and not considered delinquent and no late penalty will be charged.
A specified period immediately following the premium due date during which you can still make a payment to keep your policy in force without interruption.
The policy owner has a certain period (usually 30 to 60 days) during which he/she wifi be able to pay at least an amount prescribed in the policy which would be enough to keep the policy in force for approximately 3 months. No transfers or any requests for policy changes may be made during a grace period. If payment is not received by the end of the grace period, the policy (and all riders to the policy) will terminate without value and all coverage under the policy will cease.
Specified time, after the due date, in which a borrower may make a payment without incurring a penalty.
period of time after the payment due date during which a penalty for late payment is not assessed.
The period of time that begins when a borrower graduates (or ceases to be enrolled at least half-time) and ends when repayment must begin. The grace period for most student loans is six months.
A specified time (typically 15 days) after a mortgage payment is due, in which the lender will not charge a late penalty.
A time period during which the borrower is not required to begin repaying his or her student loans. This period may begin if the borrower graduates or drops below half-time enrollment. The grace period is six months long for Stafford loan borrowers. The PLUS loan borrowers do not have a grace period.
The time during which loan payments are postponed and the borrower incurs no loss, penalty, or further obligation. Some loans enter repayment immediately following the borrower's graduation. Others have a grace period so that repayment does not begin until several months after graduation.
The period between the time a borrower leaves school, or if in school, drops below half-time and the time they are obligated to begin repaying their loans. This period allows the borrower to find a job and establish a budget before repayment begins. Federal Stafford Loans offer a 6-month grace period; Federal Perkins Loans offer a 9-month grace period. Students only get one grace period.
A period of time after the due date of an insurance premium or loan payment during which the overdue payment may be made without penalty, and the policy or loan remains in effect.
It refers to the period that commences after last date of premium payment. In this period, the policyholder can make late payment as well as continues to enjoy the protection of the policy.
The period after the due date for payment or performance of a legal obligation before a default is declared.
Determines how much time, in minutes, each employee will have before or after their scheduled time to clock in or out without being considered early or late.
A period beyond the premium due date during which the premium may be paid and the insurance will be continued in force.
graduated payment Guarantor program
Also known as 'free period'. If you pay your credit card balance in full before the grace period ends, you will avoid paying finance charges.
The grace period is the amount of time before the principal loan repayment begins after a student graduates, leaves school or drops below half-time status. Payments don't need to be paid during this time.
This is the period of time (usually 30 days) during which you can still pay your premium after its due date. Your policy will remain in force during the grace period. But if you have a claim, the premium remaining due will be deducted from any payment of benefits. If you don't pay the premium by the end of the grace period, your policy will lapse.