Student Loans

QWhat Is A Perkins Loan?
AA Perkins Loan is a federal loan available to undergraduate or graduate students in financial need. The loan is made directly by the academic institution, using government funds and a share contributed by the school. Advantages of a Perkins Loan are the low interest rate Ö just five percent Ö and the fact that there are no fees for taking out the loan. Depending on when a student applies, his or her level of need, and the funding level of the school, as much as $4,000 is available for each year of undergraduate study, up to $20,000; or $6,000 for each year of graduate or professional education, up to $40,000, including any Perkins Loans borrowed during undergraduate study.