Federal Perkins Loan
This program combines funds from the U.S. Department of Education and SPU. The loan fund is limited and targets the neediest students. The borrower must satisfy eligibility requirements as established by the U.S. Department of Education, and demonstrate financial need. Perkins Loans carry a simple interest rate of 5 percent and are repayable over a period of 10 years following graduation or dropping below a half-time credit load, or withdrawing from school. No interest is charged while students are in school and during a nine-month grace period thereafter.

Additional information about Perkins loans is available at http://studentaid.ed.gov.

Students awarded a Perkins loan will be notified regarding any paperwork required for this loan.