Federal Perkins Loan Program Perkins
Loans are low-interest (5%) loans made to undergraduate students with
"exceptional need" from a combination of funds from the federal government and
the University.
Repayment of both the interest and principle begins nine
months after graduation, withdrawal, or enrollment less than half-time. The
length of repayment can vary up to ten years, depending on the total borrowed.
Processing Requirements
In order to process the Perkins Loan funds the student must satisfy the
following requirements:
- Be accepted for enrollment in a degree program.
- Be registered as a full-time student.
- Accept the Perkins Loan by returning the signed offer
letter from the Financial Aid Office.
- Complete and return the Federal Perkins Loan documents
(3 in total)
- a) Questionnaire Form
- b) Statement of Rights and Responsibilities
- c) Perkins Promissory Note
- Submit your semester billing form to the Student Accounts
Office.
- Not be in default on any other type of student loan
or owe repayment of a grant.
Loan funds will be processed as soon as possible after you
satisfy all of the eligibility requirements as defined by the federal government
and the University. All proceeds of financial aid, exclusive of Federal Work Study,
that exceed the total University semester charges will be refunded the student.
No refunds are available prior to the first day of classes of each semester.
Last Updated:
6/27/02
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