Perkins Loans are need-based student loans that use a combination of institutional and federal funds. Perkins loans have no origination fees and a fixed 5% interest that is deferred until repayment. Repayment of a Perkins Loan begins 9 months after the student drops below half-time status.
The federal government requires that students participate in loan counseling prior to leaving or graduating from the school at which you received a Perkins Loan. Note: This may require two different Exit Counseling sessions if you received both a Direct Loans and a Perkins Loan. Please contact Student Loan Accounting for information about Perkins Loan exit counseling.
