College of Law

Perkins Loans

The Perkins Loan is a federally funded loan administered directly by universities. The maximum yearly borrowing limit at The University of Toledo for College of Law Students is $6,000. This is need-based aid available to students enrolled and attending at least half-time. This loan has a fixed interest rate of 5% and does not accrue interest while enrolled in school at least half-time (six credit hours). Repayment begins 9 months after you graduate or are no longer enrolled at least half-time.

A Perkins Master Promissory Note (MPN) and Loan Entrance Counseling are required for first-time borrowers.  Instructions regarding completing the promissory note and entrance counseling will be emailed to you after you accept a Perkins Loan. These must be completed prior to receiving funds.

For the 2015-2016 award year, you must accept the Perkins Loan, complete Perkins Entrance Counseling, and complete the Perkins Promissory Note prior to September 24, 2015 to ensure availability of funds. Accept the Perkins Loan online through Self-Serve.

The Perkins Aggregate (Life Limit) Loan Limit for Graduate/Professional Students is $40,000.

If you graduate or drop below half-time, you must complete an Exit Counseling Session. Failure to complete this session may result in a hold on your account and transcripts will not be released. 

Last Updated: 9/18/18