Federal Perkins Loan

This federally funded loan program offers a low interest rate (5%) to undergraduate students enrolled at least half time in a degree program. Funding is limited and recipients are selected on the basis of demonstrated financial need. Repayment begins┬ánine months after the student graduates, withdraws from the University, or drops to less than half-time attendance. Recipients must sign a promissory note with the Student Accounts Office before the loan will be posted to the student’s tuition account. Federal Perkins Loan limits are as follows:

Per Year Aggregate Total Aggregate
Undergraduate $3,000 $15,000