Perkins Loan

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Perkins Loan

A loan offered by the U.S. federal government to students seeking a post-secondary degree or certification. The loan is offered to students who demonstrate financial need. It is offered at a 5% interest rate and has a 10-year repayment period.
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Direct Loans, Perkins Loans and FFELP loans are made pursuant to Title IV of the Higher Education Act of 1965, as amended (HEA).
5 100% SOURCE: THE COLLEGE BOARD Where the Money Went Percentage Distribution of Federal Aid Funds by Sector, 2012-13 Public Public Private For-Profit Two-Year Four-Year Nonprofit Institutions Pell Grants 33% 32% 14% 20% Supplemental Educational Opportunity Grant 21% 0% 33% 16% Federal Work-Study Allocations 16% 36% 40% 7% Perkins Loans 0% 45% 52% 3% Subsidized Direct Loans 15% 41 23% 21% Unsubsidized Direct Loans 7% 39% 33% 21% Parent PLUS Loans 1% 46% 44% 9% Grad PLUS Loans 0% 25% 69% 6% NOTE: Percentages may not add to 100 due to rounding.
All three colleges have pursued lawsuits against students who defaulted on their Perkins loans.
To streamline student aid programs and reduce federal spending, the Romney campaign plans to reevaluate campus-based student aid programs like Perkins Loans and the Federal Supplemental Education Opportunity Grant (FSEOG).
And, we can dramatically increase Pell Grants, Perkins Loans, and the tuition tax credit to make sure that our students can have the chance to go onto higher education and fulfill their dreams.
22) This would seem to cover Perkins loans that are issued to students on the basis of financial need using federal funds.
The MIS 320 Reports require California Community Colleges to provide student data, courses, and college calendars to ensure accuracy in reporting financial aid, Federal Perkins Loans, enrollment, matriculation and more.
But the failure to increase Perkins Loans (to the lowest income students) and Stafford Loans in the near future will be a major disappointment.
Stafford and Perkins loans are the two types of federal loan programs available to students.
The new budget also proposes terminating 47 education programs as well as ending the Perkins Loan program and would require colleges to return the federal share of the money used to make new Perkins Loans.
In most cases you wouldn't want to combine a Perkins loan with other types of loans, because Perkins loans have better loan forgiveness benefits for people who go into teaching.
Schools often allocate Perkins Loans on a first-come, first-served basis, another reason why completing the FAFSA early is important.