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Federal Perkins Loan

The Federal Perkins Loan is a low interest (5%) loan that is awarded to degree seeking undergraduate and graduate students who demonstrate need as calculated by the Free Application for Federal Student Aid (FAFSA) and school cost of attendance. The loan is processed through FSU, and no disbursement or guarantee fees are deducted. Repayment begins nine months after graduation or withdrawal from enrollment.

Perkins funds are limited, and students must complete the FAFSA as soon as possible after January 1 each year in order to receive priority consideration. If you are awarded both Federal Perkins and Federal Stafford Loan, consider accepting the Federal Perkins Loan first, as the interest rate and disbursement amount are more favorable.

Annual Award Limits
Cumulative Limits
Undergraduate Student
$5,500 maximum
  • $11,000 - Class 1, 2
  • $27,500 - Class 3, 4
Graduate Student
$8,000 maximum
  • $60,000
  • (includes undergraduate amounts)

last updated March 23, 2009