Federal Perkins Loan

Federal Perkins Loan

Amount Varies (2014-2015 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.


  • 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.