Perkins Loan Program

Federal Student Loans

Perkins Loan Program

Available to undergraduate, graduate, and professional students with exceptional financial need.

  • Interest rate for this loan is 5%.
  • Not all schools participate in the Federal Perkins Loan Program. You should check with your school's financial aid office to see if your school participates.
  • Your school is the lender; you will make your payments to the school that made your loan or your school’s loan servicer.
  • Funds depend on your financial need and the availability of funds at your college.

A percentage of a loan may be canceled after a complete year of service with certain types of public service and other occupations like:

  • Teacher
  • Volunteer in the Peace Corps or ACTION program
  • Member of the U.S. armed forces (serving in area of hostilities)
  • Nurse or medical technician
  • Law enforcement or corrections officer
  • Head Start worker
  • Child or family services worker
  • Professional provider of early intervention services

Learn more about the Federal Perkins Loan Program.