Criteria: Exceptional financial need; enrolled at least half time; meeting the Satisfactory Progress Policy requirements.
Amount: Up to $4,000 for each year of undergraduate study; the cumulative maximum is $20,000.
Interest: 5 percent; does not accumulate until repayment period begins. Nine month grace period; up to ten years to repay. No interest on repayment as long as the borrower is enrolled in at least half time study. Deferment or repayment is permitted for certain kinds of federal or volunteer service.
Other: For additional information on Perkins loans please visit the Accounting Office web site