The Perkins Loan is awarded to students with exceptional financial
need. This is a campus-based loan program, with the school acting as the
lender using a limited pool of funds provided by the federal
government.Interest rate is fixed at 5%No loan feesYou may be eligible for up to $3,000 per academic yearThe Perkins Loan is a subsidized loan, with the interest paid by the
federal government during the in-school and 9-month grace periods. The Perkins Loan is awarded to students with exceptional financial need
as determined by the FAFSA. A Federal Perkins Loan will be offered only
if you are eligible and funds are available. Our funds are limited -
fIle your FAFSA early to maximize your opportunities for funding.A Federal Perkins Loan is a low-interest
(5 percent) subsidized loan for students with exceptional financial
need. Wayne State University is the lender.No interest accrues on a Federal Perkins
Loan while you are in school at least half-time and for nine months
following graduation. Repayment begins 9 months from the date you become
a less-than-half-time student. There is a 10-year repayment period.
