Federal Perkins Loans  Federal Perkins Student Loans are a low
interest loan for both undergraduate and graduate students with
exceptional financial need. Your college serves as the lender.
Application form  Apply for financial aid using the FAFSA.
Residency and Citizenship  You must be a citizen of the United
States or have been admitted into the United States as a
permanent resident, refugee or asylee.  Award Amounts  Funding
available to lend to students is limited to a set amount of
money provided by the federal government, a share contributed by
the college and the repayment of Perkins Loan funds by prior
borrowers.  Qualifying programs and credits  You must be
accepted for admission to a degree-seeking program. You must
register for at least six equated credits.  Pursuit and Progress
You must be in good academic standing and make satisfactory
progress towards completing a degree  Interest Rate and
Repayment  The interest rate is 5%. Perkins Loan borrowers are
eligible to defer the repayment of the lo