… interest - borrow wisely. To receive Federal Funds, you must be at least a half-time student: Graduate Students must take at least 3 credits in Summer and at least … Loan eligibility , given that federal criteria are met. As first-time Bachelor’s degree students, you will also be considered for the Federal Pell … after graduation. Repayment After your graduate, leave school, or drop below half-time enrollment, your federal student loans will enter a 6-month grace period. During …