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Main Campus
Rocket Hall 1200
2801 W. Bancroft St.
Mail Stop 314
Phone: 419.530.8700
Fax: 419.530.5835 utfinaid@utoledo.edu

Federal Perkins Loan

The Federal Perkins Loan Program provides low-interest loans to help students with need finance the costs of postsecondary education. Students can receive Perkins loans at any one of approximately 1,800 participating postsecondary institutions. Institutional financial aid administrators at participating institutions have substantial flexibility in determining the amount of Perkins loans to award to students who are enrolled or accepted for enrollment.

Borrowers who undertake certain public, military, or teaching service employment are eligible to have all or part of their loans canceled.

Financial need is determined by the Department of Education, using a standard formula, established by Congress, to evaluate the financial information reported by the student on the Free Application for Federal Student Aid (FAFSA).

Annual Limits

Undergraduate Maximum
$4,000

Graduate
$6,000

Federal Student Guide Handbook

 

Aggregate Limits

Not yet completed 2 academic years
$8,000

Undergraduate Maximum
$20,000

Graduate
$40,000

 

The Federal Perkins Loan will not be delivered to a student’s account until the University has a valid FAFSA on file, acceptance of the Perkins loan by return of the signed award letter entrance counseling and a MPN has been completed.

Last Updated: 3/22/15