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Financial Aid Programs
undefined Financial Aid Programs?
undefined Financial Aid Programs?
To be eligible for a Perkins Loan, applicants must be all of the following:
- An undergraduate, graduate, or professional student with exceptional financial need
- Enrolled full-time or part-time
- Attending a school that participates in the Federal Perkins Loan Program
undefined Financial Aid Programs?
Maximum Loan Amounts: Undergraduate - up to $5,500 a year (maximum of $27,500 as an undergraduate)
Graduate - up to $8,000 a year (maximum of $60,000, including undergraduate loans)
Amount actually received depends on financial need, amount of other aid, and availability of funds at school
Interest Rate: Fixed at five percent
Maximum Loan Length: Perkins Loan repayment plan options differ from Direct Loan Program or FFEL Program loans. Check with your school for more information on Perkins loans repayment.
Frequency of Payments: Monthly or quarterly. After you graduate, leave school, or drop below half-time enrollment, you have a nine-month grace period before you begin repayment. Those in the military might have longer.
Prepayment penalties: None
Fees: None
| 10 years | |
| 5% | |
| $5,500 annually for undergrad, $8,000 annually for graduates | |
| Monthly | |
| None | |
| None |
undefined Financial Aid Programs?
To apply for Perkins Loans, fill out the Free Application for Federal Student Aid (FAFSA) online (the faster and easier way), or you can get a paper FAFSA from your high school, local library, postsecondary school, or by calling the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243). TTY users for the hearing impaired can call 1-800-730-8913.
If you applied for Federal student aid for the previous school year, you can probably file a Renewal FAFSA for the next year. By using a Renewal FAFSA, you will only have to update any information that has changed and fill in a few new answers.
The U.S. Department of Education's Student Aid on the Web-the gateway to Federal student aid, offers a single source of free information not only for applying for Federal aid, but also on choosing a career, selecting a school, and identifying non-Federal resources to pay for higher education.
For general information about Federal student aid programs, assistance in completing the FAFSA, and information about FAFSA on the Web, call the Federal Student Aid Information Center (FSAIC) at the following toll-free number:
1-800-433-3243
TTY users for the hearing impaired can call:
1-800-730-8913
Callers in locations without access to 800 numbers may call this non toll-free number:
319-337-5665