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Ddress: SSN: Telephone number: Last First Address Middle initial City State Please consider me for a Perkins Loan for: q Fall q Spring Student signature Date ZIP q Summer Following Section for Office of Financial Aid Use Only Dear: Date: You were not eligible for a Perkins Loan because: Amount offered: q We have met all your needs with other forms of financial aid. q We do not have a completed financial aid file in our office. q No funds were available. q Your unmet nee.

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Students are responsible for all of the interest on unsubsidized loans. Perkins loans are not based on financial need and do not offer subsidized interest but are often used in conjunction with Stafford loans. The school is the lender with Perkins loans.

Advantages of the Perkins Loan It carries no origination and guarantee fees. Many other loans may have fees of 0-4%. Repayment of the loan does not begin until you graduate or drop below half-time status. In cases of economic hardship, payments may be deferred, extended, or reduced.

Under federal law, schools could no longer issue Perkins Loans as of 9/30/17. Final disbursements ended 6/30/18. The program started to have budgetary issues in 2015, and the government started phasing it out. Funds were limited and not every student who qualified got money.

With subsidized loans, the lender pays the interest on behalf of the student for a period of time. Students are responsible for all of the interest on unsubsidized loans. Perkins loans are not based on financial need and do not offer subsidized interest but are often used in conjunction with Stafford loans.

You're eligible for immediate and total discharge of 100% of your Perkins loan amount in the cases of: Bankruptcy, if the bankruptcy court rules repayment would cause undue hardship. Death. School closure, if your school closed before you could complete your degree.

To be eligible for a Perkins Loan, applicants must be all of the following: An undergraduate, graduate, or professional student with exceptional financial need. Enrolled full-time or part-time. Attending a school that participates in the Federal Perkins Loan Program.

To be eligible for a Perkins Loan, applicants must be all of the following: An undergraduate, graduate, or professional student with exceptional financial need. Enrolled full-time or part-time. Attending a school that participates in the Federal Perkins Loan Program.

Perkins loans are no longer offered, but borrowers who still hold one must repay the loan. As of 2023, other federal loans are available to students, including direct subsidized loans, direct unsubsidized loans, direct plus loans, and direct consolidation loans. Congressional Research Service.

Loan Terms Interest rates for the Perkins loan are fixed at 5%, which is lower than many private student loans. Undergraduate students were allowed to borrow up to $5,500 each year, with a total limit of $27,500 over the course of your degree.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232