What is a Perkins Loan?

The Perkins Loan is the best loan offered to students because of its low interest rate and requirements when paying the loan back.

The Perkins Loan is awarded to undergraduates and graduate students with exceptional financial need. This is a campus based loan program, with the school acting as the lender using a limited pool of funds provided by the federal government. The Perkins loan is the best student loan available. It is a subsidized loan, with the interest being paid by the federal government during the in school and 9 month interest being paid by the federal government during the in school and nine month grace periods. There are no origination or guarantee fees, and the interest rate is five percent. There is a 10-year repayment period. The amount of Perkins loan you receive is determined by your school's financial aid office.

Written by Don Black and Tami Trover -
You are here: Essortment Home >> What is a Perkins Loan?

DISCLAIMER: PLEASE READ - By printing, downloading, or using you agree to our full terms. Review the full terms at the following URL: http://www.pagewise.com/disclaimer.htm. Below is a summary of some of the terms. If you do not agree to the full terms, do not use the information. We are only publishers of this material, not authors. Information may have errors or be outdated. Some information is from historical sources or represents opinions of the author. It is for research purposes only. The information is "AS IS", "WITH ALL FAULTS". User assumes all risk of use, damage, or injury. You agree that we have no liability for any damages. We are not liable for any consequential, incidental, indirect, or special damages. You indemnify us for claims caused by you.

FAQs: This site is published by PageWise, Inc. Would you like to link to this page? Reprint this article on your website? Reprint this article on paper? Want to reference this article in a paper, report, or presentation? Is there an error in this page? Do you have a follow-up question about this topic? Want to read our Privacy Policy? Read our legal/medical disclaimer?