Federal Perkins Loans are awarded to students with exceptional need. The maximum Perkins award varies due to changes in the amount of federal funding.
Awards for 2012-13 are typically in the amount of $2000 per academic year, but cannot under any circumstances exceed $6000 per calendar year.
The interest rate for new borrowers under the Federal Perkins Loan program is 5 percent, with repayment beginning nine months after you cease attending at least half-time. No origination or guarantee fees are charged on Perkins loans.
There is a lifetime limit of $40,000 of aggregate Perkins loan debt for graduate students (including any undergraduate Perkins loans).
All students receiving Federal Perkins Loans at California Western must:
Complete an on-line Entrance Counseling session. This applies to students who have not previously received a Perkins loan at California Western School of Law.
Complete a Perkins Loan Information Sheet. If you are awarded a Perkins Loan, this form will be linked on the Documents tab of the Online Aid System.
Sign and date a Federal Perkins Loan Master Promissory Note. If you are awarded a Perkins Loan, a link to the Perkins Loan Master Promissory Note will be provided on the Documents tab of the Online Aid System.
Federal Perkins Loan Funds will be applied to awardees' student accounts only after all the above requirements are completed.