Office of Student Financial Aid

Federal Perkins Loan

The Federal Perkins Loan Program provides low-interest loans to help undergraduate 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).

The Federal Perkins loan program will be phased out during the 2017-2018 academic year.   

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: 7/28/17