How to Apply
THE FEDERAL PERKINS LOAN
Perkins Loans are student loans funded by the federal government and administered by Duke University.
- Students who demonstrate financial need based on information submitted through the FAFSA may qualify for a Perkins Loan.
- The loan is interest free as long as the student remains enrolled at least half-time in an accredited degree program.
- Under certain circumstances, the federal government may cancel or "forgive" all or part of a Perkins Loan.
|
Annual Limits |
Origination Fees |
Interest Rate |
Repayment Begins |
|---|---|---|---|
|
Undergraduate - $5,500 |
None |
5% fixed |
Nine months after student graduates, withdraws, or attends school less than half time. |
|
Graduate - $8,000 |
None |
5% fixed |
Nine months after student graduates, withdraws, or attends school less than half time. |