Perkins Loan

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 ?
KPMG's audits included Merrimack's financial aid office, which administers various grant and loan programs, including the federal Perkins loan program.
* A Dear Colleague Letter to institutions of higher education from the Acting Assistant Secretary for Postsecondary Education outlines the wind-down of the Federal Perkins Loan Program.
Since its space-race inception, the Perkins Loan program has offered generous loan-forgiveness terms for teachers.
In October 2015, reports of the death of the Federal Perkins Loan Program, the nation's oldest, proved greatly exaggerated when the program was extended.
Ford Federal Direct Loan (Direct Loan) Program loan, Federal Family Education Loan (FFEL) Program loan, and/or Federal Perkins Loan (Perkins Loan) Program loan or complete a TEACH Grant service obligation on the basis of your total and permanent disability Before your federal student loans or TEACH Grant service obligation can be discharged, you must provide information to the U.S.
The Federal Perkins Loan Program offers low-interest loans to undergraduate and graduate college students "with exceptional financial need." This target group includes extremely low income students, minorities and first-generation college students.
Students with exceptional financial need may qualify for a federal Perkins Loan. If so, no interest will be charged until nine months after leaving school.
Beginning in the late 1990s, many states developed memoranda of understanding for linked data systems, but these were limited in their usage to reporting on the federal Perkins Loan Program and included only those institutions that receive Perkins funds.
According to state officials, colleges may be unable to draw down and disburse to students funds from campus-based programs such as work-study or the Federal Perkins Loan Program until the shutdown ends.
Supplemental grants to needy students would remain unchanged at $734 million, while the administration would expand by eight-fold the loan volume under the Perkins Loan program.
Specifically, the analysis compares the cumulative debt from Stafford and Perkins loan programs of students who did not complete a degree within 6 years of first enrolling ("noncompleters") with that of their counterparts who did complete ("completers").