Federal Perkins Loan
A Federal Perkins Loan is a low-interest (5 percent) loan for both undergraduate and graduate students with exceptional financial need. The college where you are enrolled is your lender. The loan is made with government funds with a share contributed by the school. You must repay this loan to your school.
Depending on when you apply and your level of need, you can borrow up to:
- $4,000 for each year of undergraduate study (the total amount you can borrow as an undergraduate is $20,000 if you have completed two years of undergraduate work; otherwise, the total you can borrow is $8,000).
- $6,000 for each year of graduate or professional study (the total amount you can borrow as a graduate/professional student is $40,000, including any Federal Perkins Loans you borrowed as an undergraduate).
If you are eligible for this loan, it will be included with your financial aid award. You will be required to sign a promissory note and entrance counseling will be required.
Information about the repayment of your Federal Perkins Loan is available in the CSB Loan Book: x6193.xml