Federal Perkins Loan

This loan program is no longer available after the 2017-2018 academic year.

UPDATE:

The Federal Perkins Loan program expired on September 30, 2017.  The information below is provided for students who borrowed Perkins Loans prior to the program's expiration.

INTEREST RATE:

The interest rate is 5% with the interest paid by the federal government while the student is in school at least half time and during a 9-month grace period after graduation or less than half time enrollment.  There are no origination fees for the Perkins Loan.

REPAYMENT:

• If you are in default of your Perkins Loan or need assistance with repayment, please contact the One Stop for Student services, and select Option 3 for "Billing and Payment" and ask for the Bursar Collections area.
• The standard repayment is 10 years.
• Perkins Loan is subject to partial forgiveness/cancellation for some types of teaching/public service.
• When you near graduation (or drop below half time) you will be given information on loan repayment.  This is referred to as exit counseling.

HELPFUL LINKS:

• Federal Perkins Loan information, including discharge and cancellation options
• Perkins deferment and forbearance forms
• View your federal loan history on StudentAid.gov.