Federal Perkins Loans
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:
Federal Perkins Loan Funds will be applied to awardees' student accounts only after all the above requirements are completed.