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Office of Student Financial Assistance

Federal Perkins Loan

A Federal Perkins Loan has a fixed 5% interest rate. This loan is awarded to undergraduate or graduate students with exceptional financial need. Approximate annual amounts are between $500 to $3,000 for undergraduate students and $500 to $5,000 to graduate and professional students.

Priority for a Federal Perkins Loan is given to students who meet our December 1 priority date for submitting the Free Application for Federal Student Aid (FAFSA).

A Federal Perkins Loan must be repaid. The first payment will be due 9 months after you graduate, withdraw, or drop below half-time enrollment. If you have accepted a Federal Perkins Loan within KSIS, a master promissory note (MPN) must be signed and loan information completed by following the Perkins MPN & Loan References details listed on your To Do List before the loan will disburse.