Federal Perkins Loan

This loan is administered by the College utilizing federal and institutional funds. They are awarded to students with demonstrated need. If you are eligible for a Federal Perkins Loan, it will appear on your award letter.

Minimum repayment is $40 per month including 5% interest that begins to accrue nine months after the date the borrower ceases to be enrolled at least half-time and ends ten years later. No interest accrues on the Federal Perkins Loan during the in-school period. The repayment period may be extended during periods of in-school deferment, hardship, or forbearance. 

Borrowers are entitled to have up to 100% of the original principal loan amount cancelled if the borrower performs in a qualifying service in the areas listed on the promissory note. Visit the Student Loans website for more information on these services.

If a Federal Perkins Loan is listed on your award letter and you are a first-time borrower, you must sign a Master Promissory Note and participate in online entrance counseling through the Student Business Services website.