Federal Perkins Loans

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How do I apply for a Perkins or Stafford Loan?

As with all federal student financial aid, you apply for a Perkins or Stafford Loan by completing the FAFSA at www.fafsa.ed.gov.

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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 records.

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How much can I borrow?

Undergraduates: Up to $4,000 a year (maximum of $20,000 as an undergraduate)

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

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Keep in mind, the amount you can borrow might be less than the maximum available.

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Each school participating in the Federal Perkins Loan program receives a certain amount of Perkins funds each year from the U.S. Department of Education.

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When all available funds for that award year have been distributed, no more awards can be made for that year.

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Submit your FAFSA early so you can be considered for these funds.

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To learn more and apply, complete your FAFSA form at www.fafsa.ed.gov

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