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Perkins Loan

The Federal Perkins Loan Program provides low interest loans to students with exceptional financial need. The school is the lender and you will make your payments to the school that made your loan disbursement or your school's loan servicer.

Eligibility Requirements

  • Available to undergraduate, graduate, and professional students with exceptional financial need
  • Students must file a Free Application for Federal Student Aid (FAFSA) as part of the application process for a Perkins Loan
  • Enrolled full-time (12 or more credit hours) or part-time ( 6 credit hours)
  • Are attending a school that participates in the Federal Perkins Loan Program
  • Students also will need to complete a Perkins promissory note in order to receive a loan
  • Meet other eligible criteria

The amount of loan that student qualifies for is determined based on:

  • Financial need and the availability of funds at your institution
  • Amount of other aid received

Due to limited funding, not everyone that qualifies for a Perkins Loan will receive one.


  • If you are attending school at least half-time, you have nine (9) months after you graduate, leave school, or drop below half-time status before you must begin repayment.
  • Students may defer repayment of the loan while enrolled at least half-time at a postsecondary school
  • Repayment and forgiveness benefits available to Federal Direct Loan borrowers are NOT available to Perkins Loan borrowers
  • A Perkins Loan borrower is eligible to consolidate their Perkins Loan(s) into a Direct Consolidation Loan
  • Perkins Loans That Have Been Consolidated
    • The loan is paid in full by the Consolidation Loan.
    • An undergraduate student who has consolidated his or her Perkins Loans does not have an outstanding balance on a Perkins Loan, and is therefore treated as a new undergraduate student.

For additional Perkins repayment information, please visit the following links:




Students can review all Federal loan aggregate borrowing limits here.

Please note that we are required to award a Federal Direct Loan (subsidized/unsubsidized) as part of your Perkins Loan award. You have the right to decline/adjust these Federal Direct Loan amounts as you see fit, but these awards still impact your Perkins amount eligibility.


Last updated 4/8/2016
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