Federal Perkins Loans
Federal Perkins Loan
This is a low-interest loan (5%) for both undergraduate and graduate students with exceptional need. Awards are made on a priority basis while funds are available. The University is your lender and you must repay this loan to the University--repayment begins nine months after you stop attending school at least half-time. You are required to sign a promissory note before receiving funds for this loan. If you do not sign the note, the loan offer will be withdrawn and the funds will be awarded to other students.
Applying for Perkins Loans
-
As with other types of financial aid, a student
applies for a loan by filing a FAFSA. Because Perkins Loan funds
are limited, students are encouraged to file the FAFSA by April
1st to increase their chances of receiving a loan.
-
When the Office of Student Financial Aid
receives the FAFSA results and any other supporting documents
requested, we award the student in MyView the amount the student can borrow under the Perkins Loan
program.
- The student accepts the amount on MyView or notifies the Student Financial Aid office of a requested reduction in the loan amount.
- Prior to the start of classes (late July,
early August for the fall term), students
are notified to sign the Perkins Master Promissory Note and accept
the loan amounts at the Educational Computer Systems Incorporated (ECSI) website.
- Loan funds will not be credited to a student's university account until the student completes the promissory note process via the link above.