Federal Perkins Loans
ABOUT THE PERKINS LOAN
- Low-interest loan awarded to traditional undergraduate students based on exceptional financial need and the availability of funds.
- Loan is borrowed from Capital University using funds from the repayment of loans borrowed by Capital University graduates.
- Interest rate on a Federal Perkins Loan is fixed at five (5%) percent.
- Repayment of a Federal Perkins Loan begins nine (9) months after a student graduates, falls below half-time enrollment or leaves school.
The Federal Perkins Loan program has been discontinued as of October 1, 2017. No additional Perkins loans will be available or awarded in the future.
Repayment of a Federal Perkins Loan begins nine (9) months after the student graduates, falls below half-time enrollment or leaves school.
Federal Perkins Loan borrowers will be required to complete a Federal Perkins Loan exit interview when they graduate or leave school. This exit interview will provide more information about their repayment options, deferments, cancellations provisions, etc.
To estimate your Federal Perkins Loan repayment schedule and amount, use the Perkins Loan calculators available here.