Definitions for "Separation Date"
Keywords:  grace, graduate, cease, enrolled, half
A separation date is the day that the borrower becomes eligible for consolidation. Separation is defined as a borrower: 1) not taking any more classes; or 2) taking less than 6 credit hours for their undergraduate degree; or 3) being classified as “part time” by their school for graduate or post graduate work. (Please note that a graduation date is the date of a graduation or when one has received a diploma. Unless officially separated from school, a borrower will not be eligible for consolidation even though he or she has graduated.)
The actual or anticipated date when the borrowers graduate, leave school, or drop to a less than half-time status. The separation date is used to determine the loan's grace period and the date the first loan payment will be due.
The day a student is no longer enrolled at least half time at an eligible school.