As with all federal student financial aid, you apply for a
Perkins or Stafford Loan by completing the FAFSA at www.fafsa.ed.gov.
A separate loan application is not required. However, you
will need to sign a promissory note,* which is a binding legal contract that
says you agree to repay your loan according to the terms of the promissory
note.* Read this note carefully before signing it and save a copy for your
How much can I
Undergraduates: Up to $4,000 a year (maximum of $20,000 as
Graduates: Up to $6,000 a year (maximum of $40,000,
including undergraduate loans)
Amount actually received depends on financial need, amount
of other aid, availability of funds at school
Keep in mind, the
amount you can borrow might be less than the maximum available.
Each school participating in the Federal Perkins Loan program
receives a certain amount of Perkins funds each year from the U.S. Department
When all available funds for that award year have been distributed,
no more awards can be made for that year.
Submit your FAFSA early so you can be considered for these
To learn more and
apply, complete your FAFSA form at www.fafsa.ed.gov