Office of Financial Aid

Federal Perkins Loan

Eligibility

  • Applicants who indicate on the FAFSA that they are interested in student loans and file the FAFSA by the March 1 priority date are considered for a Perkins Loan.
  • Awarded to students with the lowest Expected Family Contribution.
  • Must be enrolled at least half time

Loan terms and conditions

  • 5 percent interest rate
  • Payments begin 9 months after the student stops attending at least half time
  • Maximum annual loan limit is usually $2,250
  • Cumulative loan maximum is $8,000 for first two years of school and $20,000 for completion of a bachelor’s degree