What they are:  Perkins Loans are federal loans for both graduate and undergraduate students who show financial need after grants, scholarships, federal work-study, and Federal Direct Loans have been awarded.

Who can borrow: U.S. citizens and permanent U.S. residents can apply.

Maximum amount: You can be awarded up to $750 per semester.

Repayment: You must start making payments nine (9) months after leaving school.

Interest: The rate is fixed at 5% and is deferred as long as you are enrolled at least half time.

How to apply: Complete the FAFSA or Renewal FAFSA.

Other requirements: Students who file by the March 15 deadline will receive priority. Recipients must sign a Perkins Master Promissory Note (MPN) for funds to be disbursed.

Learn more about repayment and receive sample repayment schedules by contacting the Bursar's Office.