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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References in periodicals archive ?
What KPMG failed to discover was that Merrimack's financial aid director, Christine Mordach, was engaged in a scheme in which she regularly replaced grants and scholarships that previously had been awarded to students with Perkins loans, often without the students' knowledge or consent.
And the college found money to replace federal Perkins loans when that program was discontinued.
2353)--This legislation reauthorizes Perkins loans, and passed the House unanimously in June 2017.
Federal student loans don't require borrowers to start paying back the loans until six months after graduation (or longer for Perkins loans).
Perkins loans, when combined with Pell grants, can be extremely important factors in determining students' stability and confidence, according to Fraga.
Loans with other federal student loan programs (e.g., 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. Note that the debt these programs repay for you is considered taxable income, so although they may save you thousands, you'll still be responsible for the resulting tax bill. 
Regarding federally subsidized student loans, nearly 38% receive Stafford Loans and 15% received Perkins Loans. While the HERI sample is not representative, our results may serve as a lower bound on the effects of business cycles on financial aid, meaning that if richer students at prestigious universities are affected by recessions, then obviously poorer students at institutions with more constrained budgets are even more sensitive.