Federal Perkins Loan
Perkins Loan expired on September 30, 2015. Effective October 1, 2015, schools can no longer make loans to new borrowers.
**Loans that were not accepted by students prior to October 1, 2015, are no longer available (offered) to students**
Application Process: Upon accepting the Perkins loan, students are notified by the Bursar's Office loan service provider, ECSI, to complete the Perkins Promissory Note and a Borrower Information Sheet.
For 2015-16 loans, these items need to be completed by September 14, 2015. For more information about the Perkins Loan process, go to Federal Perkins Loan or contact the Bursar's Office at 408-924-1601 or firstname.lastname@example.org.
Funds for this loan are extremely limited and will only be awarded to students when funds become available to the school.
- For undergraduates, credential, and graduate students with exceptional financial need; 2nd BAC students are not eligible for the Perkins loan.
- Must have completed a FAFSA, submitted requested documents and have been awarded the Perkins Loan.
- Must be enrolled at least half-time: 6 units as an undergraduate or credential student, 4 units as a graduate student.
- EFC: $0 - $800
- Interest rate is 5% while in repayment.
- $3,000 maximum per academic year
- $20,000 cumulative maximum for Undergraduate students
- $40,000 cumulative maximum for Credential students
- Repayment begins nine (9) months after less than half time enrollment. The federal government pays for the interest while students are in college at least half-time and during the nine (9) month grace period.
- There are forgiveness provisions for certain students: teachers of certain subjects or teachers in low income areas; registered nurses working in eligible facilities located in areas experiencing a shortage of nurses may participate in the U.S. Department of Health and Human Services' Nursing Education Loan Repayment Program (NELRP); and enlisted persons in certain specialties of the Armed Forces, the U.S. Department of Defense might, as an enlistment incentive, repay a portion of your student loan.