Federal Perkins Loans
Step 1: Understanding the Federal Perkins Loan
Federal Perkins loans are available to students with higher need. There are no fees, and interest does not accrue while you are enrolled at least half time. Upon graduation, leaving school, or entering less-than-half-time status, you enter a nine-month grace period. After the grace period, interest is charged at 5% and regular payments on the loan must be made. You may borrow up to $5,500 per year under this program.
Step 2: Obtaining Your Loan
If a Federal Perkins loan has been awarded to you, you will be receiving information from the Financial Aid Office on the Federal Perkins Loan application process.
Step 3: Follow-up
Upon graduation (or leaving school or entering less-than-half-time academic status), you will be notified by e-mail on how to complete loan exit counseling. University Accounting Service, LLC, services all Bethany Federal Perkins loans.