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. 

Fees: none.

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.