Federal Perkins Loans
Loan eligibility is determined by the Office of Financial Aid.
- Completed FAFSA is required before student loan eligibility can be determined.
- The Office of Financial Aid will send by mail an Award Letter package indicating your loan eligibility.
- Required loan document will be provided in the package and must be returned to the Office of Financial Aid for loan processing.
- Online Counseling and Master Promissory Notes are also required for all loan processing.
Loans require repayment
- Detailed information about repayment of federal loans, including borrower’s rights and responsibilities, is available in The Student Guide.
- You have the right to cancel all or a portion of your federal loans. Instructions are stated on your promissory note.
Enrollment Requirement
- To receive Perkins Loan you must be enrolled in at least 3 credit hours.
- Must meet the current Southwest Baptist University Satisfactory Academic Progress Policy.
Perkins Loan
The Perkins Loan is for both undergraduate and graduate students with exceptional financial need.
- The loan is made with government funding distributed through your school.
- The federal government "subsidizes" the interest during the period of enrollment.
- Interest charges and repayment of principal begin nine months after the student leaves school.
Requirements for Perkins Loan Processing
- Signed Master Promissory Note (included in Award Package) returned to Southwest Baptist University, Office of Financial Aid.
- Completed Perkins Entrance Counseling