Perkins Student Loans

Here are some interesting details about the Perkins Student Loan program:

  • Perkins Student Loan funds may be one of the awards included as part of your package when you receive your detailed Financial Aid Award Letter (if you are a freshman or sophomore).
  • Stafford loan eligibility is the same for all students, nation-wide. Perkins eligibility, however, depends on the individual school since the school is actually the ‘lender’ of Perkins Loan dollars, even though it is a federally sponsored program.
  • You will need to take some steps to confirm to us that you wish to receive the funds shown, but you are assured of being eligible.
  • The interest rate has been set by congress at five percent.
  • Perkins Loan dollars are subsidized, meaning that the government pays all interest charges as long as you remain enrolled at least half-time.
  • The dollar amount available per student varies from year to year.
  • Loan principle does not have to be repaid as long as you remain enrolled in school at least half-time. Upon graduation, or if you leave school for other reasons, there is a 9-month grace period before repayment begins.
  • The standard repayment period is 10 years, with no penalty for prepayment.

Once you have received your award letter, you may wish to go ahead and confirm your desire to receive the loan funds offered. Shown below is the link to enable you to complete and electronically sign your Perkins Master Promissory Note at the Web site of the outside vendor who provides this service to us. You will need your FAFSA PIN to complete the process.

E-Sign My Perkins Loan