What’s The Repayment Plan on a Federal Perkins Loan?

Student plus loan applicant asked:I have been accepted to PennState university and was offered a Federal Perkins Loan.
Every time I ask someone about it they just say not to worry about it now. But i can’t help but to worry you know because that will go on my credit history. If you can help I appreciate it. Thanks very much.
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You don’t have to pay back federal student loans as long as you are at least a part-time student. Once your enrollment drops below half-time, you get a six month grace period before payments kick in. They will show on your credit report in a deferred status which will not hurt you.