|
The Federal Perkins Loan program is a college or university-based student loan program. The program is administered by the financial aid office at participating schools of higher education. Federal Perkins Loans are low-interest loans for both undergraduate and graduate students demonstrating financial need. The college or university is the lender, and the loan is made with government funds. The loan must be repaid to the college or university.
Depending on the year of attendance, the level of demonstrated need, and the school's funding level, the student can:
- Borrow up to $5,500 for each year of undergraduate study. The total amount the student can borrow as an undergraduate is $27,500.
- Borrow up to $8,000 for each year of graduate or professional study. The total amount a student can borrow under this program is $60,000. This includes any Federal Perkins Loans the student may have borrowed as an undergraduate.
|
Home 
Definitions 
