Federal Perkins Loan
The Perkins Loan is one of the best student loan options available in that repayment
and interest accrual begin nine months after graduation or less than half-time enrollment.
The interest rate is fixed at 5%, and there are no loan processing fees. Perkins Loan
funding is extremely limited, and is offered on a first-come, first-serve basis to
eligible students.
Perkins Loan Requirements:
- The Perkins Loan is need-based, as determined by the FAFSA.
- Students must be admitted in a degree-granting program
- Student must complete a FAFSA for the appropriate aid year and complete any other
missing requirements (such as the verification process) to be eligible for Perkins
Loan
- Perkins Loan award amounts vary
- Student must complete the Perkins Loan Promissory Note and Disclosure Statement. Student
will receive an email from SIGNMYLOAN.com when the promissory note is available (typically
after August 1)
- Half-time enrollment is not required to receive the Perkins Loan; however, payments
may be required while in school.
- If a less than half-time student is receiving the Perkins Loan for the first time,
the 9 month grace period begins immediately, and payments will begin after the grace
period ends. If less than half-time student has earlier outstanding Perkins Loan(s),
the new loan will begin repayment on the next scheduled payment of the outstanding
loan(s).
- Students who have used their 9 month grace period, and again enroll at least half-time
will receive an additional 6 month grace period when they cease half-time enrollment.
To complete the Perkins Loan Master Promissory Note/Disclosure Statement click here. (Note: if you receive an error message indicating you are not in the Perkins Loan
system, you must wait until you receive the email from SIGNMYLOAN.com to complete
this requirement.)
Interest Rates
Eligibility
Students must be admitted in a degree-granting program. Student must complete a FAFSA
for the appropriate aid year and complete any other missing requirements. Student
must complete the Perkins Loan Promissory Note and Disclosure Statement.
Links
Perkins Promissory Note/Disclosure
Perkins Exit Counseling
Federal Loan Problem Resolution
UAS Servicing
