Campus Based Programs

1) Federal Perkins Loan:

A Federal Perkins Loan is a low interest (5 percent) loan for both undergraduate and graduate students with exceptional financial need. Federal Perkins Loans are made through a school's financial aid office. Your school is your lender, and the loan is made with government funds. You must repay this loan to your school. Your school will either pay you directly, usually by check, or apply your loan to your school charges. You will receive the loan in at least two payments during the academic year.

You can borrow up to $4,000 for each year of undergraduate study - the total you can borrow as an undergraduate is $20,000. The amount you receive depends on when you apply, your financial need, and the funding level at the school.

Other than interest, is there are no other charges for this loan. If you skip a payment, if it's late, or if you make less than a full payment, you might have to pay a late charge plus any collection costs.

If you're attending school at least half time, you have nine months after you graduate, leave school, or drop below half time status before you must begin repayment of this loan. This is called grace period. If you are attending less than half time, check with your college or career school to find out how long your grace period will be.

Back To Campus Based Programs

For more information about filling out the Free Application for Federal Student Aid (FAFSA) go to: www.fafsa.ed.gov/

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