Federal Perkins Loans
The Federal Perkins loan is a federally guaranteed, fixed-rate, low-interest loan for graduate students enrolled at least half-time (four credits per term). Federal Perkins loans are awarded by the Office of Financial Aid on a first-come, first-served basis to students who meet the financial aid priority date. To qualify, a graduate student must typically have an EFC of $0. Not all students who meet the eligibility requirements will receive the award. Funds are limited and awarded until exhausted. The typical annual award amount is $4,000 for the traditional academic year (fall, winter and spring quarters or fall and spring semesters). Students awarded a Perkins loan can find additional information about entrance counseling and the Master Promissory Note (MPN) on the Bursar's website.
Students on Continuous Enrollment are not eligible for Federal Perkins Loans.
Important note for the 2016-17 academic year:
The U.S. Congress is ending the Federal Perkins Loan Program, and regulations prohibit us from offering this loan to new students beginning in the 2016-17 academic year. Only continuing students who borrowed a Perkins loan in 2015-16, and who are continuing in the same academic program for which the most recent Perkins loan was received, are eligible to receive it for 2016-17. For those students, the loan must disburse prior to October 1, 2017 in order to receive it for the rest of the academic year.
The Perkins loan will no longer be available to graduate students after the 2016-17 academic year.