Plan to start making payments on your Perkins Loan within nine months of graduating, dropping out or going less than part-time. If you are on active duty in the military or attending classes at least half the time, you will be eligible for a deferment.
Attend an exit interview. Your school will set this up when it is time for you to start making payments on your Perkins Loan. You will be given a set of billing procedures, a copy of the repayment schedule and interest charges. Your name will be given to your school's billing partners and they will begin to send you monthly statements.
Send in every scheduled payment to the loan collector on your Perkins Loan. Even if you make a double payment or pay ahead of schedule, you are still liable to send in the regularly scheduled payment.
Go online to make your Perkins Loan payment. ACS has a Borrower Center that allows you to make your Perkins Loan payment online. Register with the website and then find the status of your Perkins Loan account, including payment history and payoff amount. Use their ExpressPay service to use a credit card or bank account to make a Perkins Loan payment.
Make payments over a ten-year period. The amount of money you borrowed from the Perkins Loan will be spread out over ten years and paid back in monthly installments. The amount of money that you need to pay will depend on your borrowed amount.