Federal Perkins Loan

Eligibility
Student must complete the FAFSA form to be eligible
Priority given to undergraduate students with high need

Loan Amount (Maximum)
     $1,000 – $2,000 first and second year students
     $1,000 for third and fourth year students

Repayment
Payments begin nine months after discontinuance of half-time status or after graduation.
Minimum payments are $120 every three months.
Payment is made back to A-B.
Federal Perkins loan may qualify for cancellation under certain conditions.

Interest Rate
Interest rate is fixed at 5%.
Interest does not begin to accrue until student enters repayment.