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The authority for schools to make new Perkins Loans ended on 9/30/2017. The following information is for the benefit of students who previously received Perkins loans.

  • 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).