Federal Perkins Student Loans

What is a Federal Perkins Loan?

A Federal Perkins Loan is a low-interest loan for both undergraduate and graduate students with exceptional financial need. Interest does not begin to accrue until nine months after you stop attending school half-time. 

Eligibility is determined by the Financial Aid Office. They will be happy to answer questions regarding your eligibility, and advise you on how to apply for a loan. Information is available online, and North Lobby of the Joyal Administration building Financial Aid Public Contact windows. 

Who is the Lender?

Your school is the lender. The loan is made with government funds with a share contributed by the school. The loan is repaid to the school.

How Much can I Borrow?

Depending on your eligibility: 

  • Up to $5,500.00 for each year of undergraduate study
  • Up to $8,000.00 for each year of graduate or professional study
  • Who should I contact if I want to apply for a Perkins Loan?

Cancellation Benefits

Certain circumstances might lead to your loans being forgiven, canceled, or discharged. Click here to view the complete list of opportunities, eligibility requirements, and regulations pertaining to canceling all or part of your loan for certain types of employment or service. 

The list below is a partial list of types of forgiveness, cancellation, and discharge:

  • Full-time teacher in a designated low income school listed in the 'Federal Register'
  • Full-time staff member  in Headstart Act or in a pre-kindergarten or child care program
  • Full-time Special Education teacher or qualified provider of Early Intervention Services / Teacher of the Handicapped
  • Full-time teacher of mathematics, science, foreign languages, Bilingual Education (loans after 7-23-92)
  • Law Enforcement/Public Defender Attorney/Corrections Officer for an eligible Local, State, or Federal Agency
  • Full-time Nurse or Medical Technician
  • Service Agent providing or supervising the provision of services to High Risk Children 
  • Member of the military
  • Peace Corps volunteer or volunteer under the Domestic Volunteer Service Act (ACTION Program)
  • Full-time firefighter in service with a local, State, or Federal fire department or fire district
  • Full-time faculty member at a Tribal college or university
  • Librarian with a master's degree in library science 
  • Full-time speech language pathologist with a master's degree and working exclusively with title I eligible schools

Who should I contact if I have questions regarding cancellation benefits?

Melissa Waite 278-4168, Counselor in Perkins & Nursing Loan Counseling Services will be happy to answer your questions.