Federal Perkins Loans
Federal Perkins Loans are for students with the greatest financial
need. These loans are made by the college or university using government
funds.
A few Federal Perkins Loan facts:
- You must complete the Free Application for Federal Student Aid (FAFSA).* to find out if you qualify for a
Federal Perkins Loan.
- The loan amount is based upon funding available to the college
or university.
- There are no origination or guarantee fees.
- The interest rate is fixed at 5.00%.
- Repayment begins nine months after you graduate, leave school or
drop to less than half time.
*The FAFSA is a free form that may be completed without professional assistance via paper or electronic forms provided by the U.S. Department of Education at www.fafsa.ed.gov.
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