Federal Perkins Loans
- Institution is the lender.
- Interest Rate – no interest while enrolled at least half-time, 5% in repayment.
- No upfront fees.
- Repayment – when the borrower graduates or drops below half-time status, students have a nine-month grace period before starting repayment.
Federal Perkins Loan Entrance Counseling and Master Promissory Note (MPN) are required. First-time borrowers will be mailed the MPN with the initial award letter package.