Federal Perkins Loans
Eligibility
To be considered for this type of loan, you must:
- File the FAFSA by the March 1 preferential filing date and indicated you are interested in student loans;
- Fall in the lowest range for Expected Family Contribution; and
- Be enrolled at least half-time.
Terms and Conditions
- 5% interest rate
- Payments begin 9 months after the student stops attending at least half-time.
- Maximum annual loan limit is $2,250.
- Cumulative loan maximum is $8,000 for first two years of school and $20,000 for completion of a bachelor’s degree.
