Federal Perkins Loan

Federal Perkins Loan is a low-interest (5 percent) loan for both qualified undergraduate and graduate students with financial need who have met the priority FAFSA deadline of March 1. The University of Oregon is the student’s lender. The loan is made with government funds, and University of Oregon contributes a share and therefore is considered the lender that you will repay. In most cases, it is in the student’s best interest to accept all or part of this loan before accepting an Unsubsidized Direct Stafford Loan or Parent PLUS if the family intends to borrow money to attend college.

Loan Repayment Calculator provided by FinAid.org

Application necessary	FAFSA (Free Application for Federal Student Aid)
Notification of eligibility provided by	UO Financial Aid Award Letter
Notification is a continuous process beginning in April to students that have applied for admission to the UO.

Three term maximum: this limit is based on fund availability for the academic year and is therefore subject to change.
Undergraduates	$3,500
Graduate and Law* *Two semesters	$2,500

Interest rate	Fixed at 5%
Origination fee per disbursement	0%
Interest capitalizes while enrolled at least half time	No
Grace period for repayment after leaving school	Nine months

Perkins Entrance Counseling required	Yes
Known as Statement of Rights and Responsibilities form
Perkins Promissory Note required	Yes

Undergraduate and graduate aggregate maximum	$40,000
No more than $20,000* of this amount may be utilized for an undergraduate program.*

Undergraduate, Graduate or Law students expecting to meet one of the following conditions should obtain information about the following bulleted topics:

Enrolling less than half-time
(6 credits undergraduates, 5 credits graduate & law)
Leaving college
Graduating