Federal Perkins Loan
What is a Federal Perkins Loan?This is a low interest (5%) loan to help pay for both undergraduate studies, and graduate studies. Priority is given to students who show exceptional financial need. Federal Perkins Loans are made through Arkansas State University with government funds. This loan must be repaid.
How do I accept a Perkins Loan?Each student that is awarded a Perkins Loan must return their signed award letter. You will then go to Completing the Federal Perkins Promissory Note and follow instructions. Also, a Perkins Loan Entrance Interview Counseling is required each year.
When do I begin to repay my Federal Perkins Loan?Each student is given a period of time before repayment begins, called a "grace period" (nine months after graduation, leaving school, or dropping below half time status), the student must begin repaying his loan. Up to 10 years may be allowed to repay the loan.