Federal Perkins Loan

• Maximum eligibility for the student Federal Perkins Loan is $5,500 per year.
• Loans have a fixed interest rate of 5% with no additional upfront fees.
• Repayment begins nine months after a borrower ceases to be enrolled at least half-time.
  
  The Financial Aid Office will determine loan eligibility based on a student's financial need as determined from the Free Application for Federal Student Aid (FAFSA) and availability of Federal Perkins Loan funds. Not every student who demonstrates financial need will receive a Federal Perkins Loan as funds are limited.