FEDERAL PERKINS LOAN
Students need to complete the Free Application for Federal Student Aid by April 15th of each year to qualify for this program. The Federal Perkins Loan is a low-interest loan (5%) which is awarded to students with exceptional financial need who are enrolled at least half-time. The Federal Government pays the interest on the loan while the student is in school.
There is a nine month grace period on this loan, which means student's do not begin making payment on the loan until nine months after the student either withdraws, graduates, or falls below half-time status.
There are also loan forgiveness provisions with this program:
• Teacher Cancellation:
• Teaching in a school serving low income families
• Teaching Special Education
• Teaching Math, Science, Foreign Language
• Nurse of Medical Technician Cancellation
• Law Enforcement of Corrections Officer Cancellation
For more information regarding your loan balances or cancellation provisions contact the Student Loan Service Center at: 1-800-698-7397 or Student Loan Service Center.