Federal Perkins Loan

The 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 Federal Direct Parent PLUS Loan if the family intends to borrow money to attend college.

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

In-school interest rate (during deferment or grace period)	0%
Interest rate (during repayment or forbearance)	Fixed at 5%
Net fee per disbursement	0%
Grace period	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.*

Once you are no longer attending the University of Oregon at least half time in eligible program, you are required to complete Exit Counseling for Perkins Loans. Also familiarize yourself with: