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
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 AB.
Federal Perkins loan may qualify for cancellation under certain conditions.
Interest rate is fixed at 5%.
Interest does not begin to accrue until student enters repayment.