If you are graduating, on a leave of absence or enrolled less than half-time, federal regulations and university policy require you to complete Exit Loan Counseling.

Basic Information

  • To obtain Perkins Loan funding, you must have applied for financial aid, and your financial aid award must include this loan.
  • You must be enrolled at least half-time if you are an undergraduate and full time if you are a graduate. Submit all required documents and maintain Satisfactory Academic Progress and eligibility for the loan.
  • If you choose not to borrow additional Perkins Loan funds in subsequent years, inform the Financial Aid Office in writing and your award will be cancelled.
  • The current (2007-2008) interest rate is fixed at 5 percent.
  • The 10-year repayment period begins nine months after graduation or when the student drops below half-time enrollment.

How To Obtain Your Funding

You will receive a Perkins Master Promissory Note (MPN) to complete and return to Student Financial Services. For more information, visit the Student Financial Services website.