Federal Perkins Loan
- $2,000 AY Maximum
- $20,000 Cumulative maximum for undergradute students
- $40,000 Cumulative maximum for credential students
5% while in repayment
Perkins Loan expired on
September 30, 2017.
Effective October 1, 2017, schools can no longer offer loans to new borrowers.
**Loans that were not accepted by students prior to October 1, 2017, 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. Allow up to 5 business days for the notification to be received. For 2017-18 loans, these items needed to be completed by September 14, 2017.
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 - $1,500.00
- 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.