The Perkins Loan is a campus based federally funded loan program. A Federal Perkins Loan is a low interest 5% loan for both undergraduate and graduate students with exceptional financial need. The college receives a set number of dollars each academic year which the school distributes to students based on need. The Financial Aid Office determines if a student qualifies for a Perkins Loan and the amount.
The Perkins Loan is a revolving loan fund, meaning when past borrowers repay their loans, the amounts are returned to the Perkins Loan fund. The available funds are then loaned to current students as a new Perkins Loan.
Eligibility:
Undergraduate or graduate student with exceptional financial need as defined by the individual school. Perkins Loan funds are awarded on a first come first serve basis.
Helpful Links:
http://www.ed.gov/prog_info/SFA/StudentGuide/2001-2perkins.html
http://www.center4debtmanagement.com/Finaid/Guide/index.html
If you have any questions about the Perkins Loan Program please contact Joyce DeFazio.
PHONE: 781-768-7206
FAX: 781-768-7209