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 nine 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