Perkins Loan

Author: Finance Editors

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Perkins Loans are low interest loans awarded to students with financial difficulties in order to finance the cost of their post secondary education.

Perkins Loans can be used in almost any post secondary school. Each school is responsible for determining who will receive the loans and what amount will be given.

Specific employment such as public, teaching or military can cancel your Perkins loan. The amount of the loan you can be eligible to receive is based on your financial needs as stated in your FAFSA application .

You don’t even need to be enrolled part-time to be eligible. Generally the loan amount for an undergraduate can be up to $4,000 per year and up to $6,000 for a graduate student. You will have to repay the loan to your school and have up to 10 years to do so.

You can enroll at your school financial aid office or directly at FAFSA.

Find complete program details about Perkins and Stafford Loans.