How to Apply for Federal Perkins Loan In United States

Apply for Federal Perkins Loan In United States By Online

Contact the financial aid office at your school to find out whether your school is a participant in the Federal Perkins Loan Program and the process to apply for loans.

The school you attend is the lender. You are responsible for making your payments to the school that made the loan or your school’s loan servicer.

Office Locations and Contacts

Federal Student Aid Information Center:

  • Information about federal student aid programs.
  • assistance with completing the free Application to Federal Student Aid
  • general information regarding your federal student loan

Federal Student Aid Information Center (FSAIC): 1-800-4-FED-AID (1-800-433-3243) TTY (for those who are hearing impaired) 800-730-8913
Locations with no accessibility to the 800 number 319-337-565
Spanish speakers are available (se habla espaol).
Website

Contact Center hours:

  • Monday-Friday 8:30 a.m.11 p.m. Eastern time (ET)
  • Saturday: 8 a.m.5 p.m. ET
  • Sunday: Noon6 p.m. ET

Eligibility

You could be eligible for an Perkins Loan if you are

  • An undergraduate or graduate or professional student who has exceptional financial need
  • Part-time or full-time students are enrolled or part-time; and
  • at a school which participates with an institution that is a part of the Federal Perkins Loan Program.

Instructions

When applying for the loan: There are not all institutions that are part of the Federal Perkins Loan Program. Check with the financial aid office at your school to find out if the school you attend is a participant.

The amount of the loan: The amount you are able to borrow is contingent upon your financial situation as well as the amount of other assistance you receive, as well as the amount of money available at your school of choice or career school. Apply to federal aid for students as early as possible to ensure that you’re qualified to be eligible for the Perkins Loan. Remember that due to the lack of resources, not every person who meets the requirements for the Perkins Loan will be able to obtain one.

If you’re an undergrad student at the time, then you could be eligible for up to $5,500 per year. The maximum amount you can get as an undergraduate borrow is $27,500.

If you’re an advanced or professional student are qualified to receive up to $8,000 in a year. The maximum amount you can take out as a graduate is $60,000, and includes loans you took in the course of an undergraduate.

Documentation is needed

The Federal Perkins Loan Program helps students in the undergraduate and graduate levels with extraordinary financial needs by providing loans to go to college or for a career school.

Here is the procedure for how to apply for an Perkins Loan.

Information that could be helpful

The loan is being paid: The school will deposit the loan money into the school account to cover tuition charges, fees room and board as well as other school-related charges. If there are any remaining loan funds at the end of the month, your school will offer you a credit to help cover your other education costs.

Making payments on your loan In addition to the interest rate of 5% rate for your loan, you won’t need to incur any other costs. If, however, you miss the payment, or when your payment is not made on time or you pay less than a complete payment, you may be required make a payment for a late cost and any collection fees.

External Links

  • Federal Student Aid – Website:
https://studentaid.ed.gov/types/loans/perkins
  • U.S. Department of Education Department of Education Website:
http://www2.ed.gov/programs/fpl/index.html

Source

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