A separate Master Promissory Note (MPN) is needed for this loan.
The Perkins Loan is a loan and will need to be repaid.
Payments begin nine months after you graduate or cease half-time enrollment.
The minimum monthly payment is $40 with a maximum repayment term of 10 years.
The Perkins Loan has a fixed interest rate of 5% for the life of the loan.
The Federal Perkins Loan offers cancellation and deferment provisions outlined in the promissory note. You will receive more information on this subject in the Perkins Loan exit interview. For more information visit the Business Office, Loan Department in Slagle Hall.