\ɡɹˈe͡ɪs pˈi͡əɹɪəd], \ɡɹˈeɪs pˈiəɹɪəd], \ɡ_ɹ_ˈeɪ_s p_ˈiə_ɹ_ɪ__ə_d]\
Definitions of GRACE PERIOD
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A period of time during which you are not required to make payments on a debt. For example, most credit cards give you a grace period of 20-30 days before you have to pay interest on the amount of your purchases. Cash advances, however, usually have no grace period; interest begins to accumulate from the date of the withdrawal, even if you pay your bills on time. Also, some student loans give you a grace period after graduating or dropping out of school. During this time, you are not required to make payments on your loan.
By Oddity Software