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Federal Perkins Loans

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The Perkins Loan program was extended in the Federal Perkins Loan Program Extension Act of 2015 on December 18, 2015. No new Perkins Loans will be made after September 30, 2017. Perkins Loans are:


Interest rate

Perkins Loans have a fixed interest rate of five percent.

Loan limits


The actual amount you'll receive depends upon your financial need and the school's level of funding.

*You may choose not to borrow the Direct Loan(s), but the Direct Loans will be included in the eligibility calculation for the Perkins Loan.

Repayment

Learn more about Perkins Loan repayment.

Deferment and forbearance

If certain special circumstances arise that make it temporarily difficult for you to make your loan payments, you may qualify for a deferment or forbearance.

Cancellation, forgiveness, and discharge

Learn more about cancellation of Perkins Loans.

More information

Contact your school's financial aid office for more information.

Forms

Federal Perkins Loan Master Promissory Note (MPN; PDF)