Federal Perkins Loan
A Federal Perkins Loan is a low-interest (5 percent) loan for both undergraduate and graduate students with exceptional financial need. Federal Perkins Loans are made through a school’s financial aid office. Your school is your lender, and the loan is made with government funds. You must repay this loan to your school. Funds are limited and are awarded on a case-by-case basis.
It is the policy of the Financial Aid Office to award Federal Perkins loans to students with exceptional need and who do not have enough financial aid to pay their tuition and fees. The Federal Perkins Loan is not to be used for expenses other than tuition and fees.