Federal Perkins Loan

Eligibility

Undergraduate and graduate students who are enrolled at least half-time and demonstrate exceptional financial need may be eligible for the Federal Perkins Loan. Funds in this revolving loan program are derived from loan payments by former students who received this loan. Funding is limited, and eligibility is determined from information on the Free Application for Federal Student Aid (FAFSA) and by institutional policies.

Best Features

• No interest accrual while enrolled at least half-time
• Nine month grace period and ten year repayment period
• Eligible undergraduates may be awarded up to $5,500 annually; not to exceed $27,500 cumulative
• Eligible graduate students may be awarded up to $8,000 annually; not to exceed $60,000 cumulative
• Student must not be in default on a federal loan
   

Entrance and Exit Counseling

Recipients of the Federal Perkins Loan are required to complete entrance counseling before the funds are disbursed. Students must also complete exit counseling upon dropping below half-time status, taking a leave of absence, withdrawing or graduating.
 

Master Promissory Note

Recipients of the Federal Perkins Loan are required to complete the Master Promissory Note online.

For more information, please contact our office.