Federal Perkins Loan
Amount Varies (2013-2014 maximum $3,000/year)
A loan with a 5% fixed rate of interest available to students with remaining need after accepting the maximum amount of Stafford loan available to them.
A loan with a 5% fixed rate of interest available to students with remaining need after accepting the maximum amount of Stafford loan available to them.
Repayment
- Begins 9 months after dropping below half-time status
- Monthly payment $10.61 per $1,000 borrowed, minimum payment $40
- 10 year repayment term
- 5.0% fixed interest rate
- Provisions available for deferment and cancellation
- No penalties or extra fees for early repayment
- Loan Calculator
Application Process – Completed in Bryan College Business Office
The following paper documents must be completed in the Bryan College Business Office.- Entrance Counseling– Required if you are a first time borrower.
- Master Promissory Note – Legal contract that you will pay back the loan.
- Exit Counseling– Required when dropping below half-time status.
