Federal Perkins Loans
NOTE: Due to changes in Federal law, we are no longer able to award any new Federal
Perkins Loans at this time.
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 and Fees:
Interest rate: fixed at 5 percent; does not accumulate until repayment period begins.
Repayment: Repayment of principal begins nine months after the student graduates, leaves school or drops below half-time enrollment; up to ten years to repay.
Other: Not eligible for if currently receiving or have previously had a Ray & Eleanor Cross Techaid Loan. For additional information on Perkins loans please visit the Financial Services and Operations website.