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.
References in periodicals archive ?
Perkins Loans offer a critical campus-based aid program providing financial aid administrators an important tool to encourage completion and retention.
5 percent of students at Catholic colleges and universities--not including seminaries or institutions that don't receive federal aid--received federal student loans, including Perkins loans.
Perkins Loans or Federal Family Education Loans) can qualify once they are consolidated into a Direct Consolidation Loan.
The Trump budget also includes cuts in the Federal Work-Study (FWS) Program, Federal Supplemental Education Opportunity Grants and Federal Perkins Loans and proposes to eliminate the annual inflation adjustment to the Pell Grant maximum award.
Cut Perkins loans for disadvantaged students by more than $700 million.
Meanwhile, the Peace Corps will allow you to defer your federal student loans and cancel up to 70% of your Perkins Loans.
Summary: Expands eligibility for Federal Direct Loan and Federal Perkins Loans programs to students in short-term skills and job training programs that lead to industry-based credentials.
Perkins loans also offer up to 100 percent loan forgiveness for people in some public service professions, including military members serving in war zones, police officers, fire fighters, nurses and others.
For more InsideCounsel coverage of law school news, see: Job prospects still grim for law school grads Court upholds dismissal of NY Law School grads' suit Yale, Penn, George Washington sue former students for unpaid Perkins loans Law schools cut size of entering classes, adjust curriculums Judge dismisses suits against John Marshall, Kent
All three colleges have pursued lawsuits against students who defaulted on their Perkins loans.