Federal Perkins Loans
- Low-interest loans for undergraduate and graduate students with exceptional financial need
- Loans are made with government funds through a school's financial aid office, and the school acts as the lender
- You are not responsible for paying the interest on the loan during in-school, grace, and deferment periods
Perkins Loans have a fixed interest rate of five percent.
- Undergraduate students:
- Up to $5,500 a year
- Aggregate (cumulative) loan limits of $27,500
- Graduate/professional students:
- Up to $8,000 a year
- Aggregate (cumulative) loan limits for undergraduate and graduate combined of $60,000
- Non-undergraduate or non-graduate/professional students: Aggregrate (cumulative) loan limits of $11,000
The actual amount you'll receive depends upon your financial need and the school's level of funding.
Deferment and forbearance
Cancellation, forgiveness, and discharge
Contact your school's financial aid office for more information.