Perkins Loan Program
Available to undergraduate, graduate, and professional students with exceptional financial need.
- Interest rate for this loan is 5%.
- Not all schools participate in the Federal Perkins Loan Program. You should check with your school's financial aid office to see if your school participates.
- Your school is the lender; you will make your payments to the school that made your loan or your school’s loan servicer.
- Funds depend on your financial need and the availability of funds at your college.
A percentage of a loan may be canceled after a complete year of service with certain types of public service and other occupations like:
- Volunteer in the Peace Corps or ACTION program
- Member of the U.S. armed forces (serving in area of hostilities)
- Nurse or medical technician
- Law enforcement or corrections officer
- Head Start worker
- Child or family services worker
- Professional provider of early intervention services
Learn more about the Federal Perkins Loan Program.