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:

  • The standard repayment is 10 years.
  • Perkins Loan is subject to partial forgiveness/cancellation for some types of teaching/public service.
  • For Perkins deferment and repayment questions, contact the Bursar's Office Collections Department at 330-672-2626, Option 2.
  • 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: