The Federal Stafford or Perkins Loans you are awarded to attend college require no payments until you graduate or reduce your course load to less than a half-time status. When you no longer qualify to have your loan payment deferred you into what is known as the grace period. During this time, the interest for a Perkins Loan and the subsidized Stafford Loan does not accrue and you do not need to make any payments. Any unsubsidized Stafford Loan also does not require you to make any payments, but the interest will accrue and be added to the balance of your student loan unless you make payments. The grace period for Stafford Loans is 6 months while the Perkins Loan has a longer grace period of 9 months.

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