Loan Information - Federal Perkins Loan
The Federal Perkins Loan is a fixed, low interest loan offered to students who are eligible, are enrolled at least half-time, are in the 2nd year of their program, and apply early. Interest does not accrue while enrolled at least half time or during the grace period. Repayment begins nine months after you graduate, fall below half-time enrollment, leave school or withdraw. The maximum amount a student may borrow will be stated on the award letter and a paper copy of the master promissory note will be included with the award letter. The promissory note must be signed and returned to Financial Aid. Be sure to read the terms and conditions printed on the promissory note so that you fully understand the obligations of the loan.
If you have been offered a Federal Perkins Loan, you must complete the following steps:
- Accept the loan in myLane.
- Complete the Perkins Loan Entrance Counseling session.
- Complete and return one copy of the Federal Perkins Loan Promissory Note that is enclosed with your award letter.
For further information regarding the Federal Perkins Loan, visit the Student Guide web page.