Federal Perkins Loan

Federal Perkins Loans are low-interest (5 percent) loans for eligible undergraduate and graduate/professional students with significant financial need.

Eligibility

To be eligible, you must meet the following criteria:

• Have demonstrated financial need based on a completed Free Application for Federal Student Aid (FAFSA);
• Have a high school diploma or General Education Development (GED) certificate, or pass a test approved by the U.S. Department of Education;
• Be working toward a degree or certificate;
• Be enrolled in an eligible program;
• Be a U.S. citizen or eligible noncitizen and have a social security number; and
• Register with the Selective Service if required.

Limit

Undergraduate students may borrow up to $4,000 per year for a total of $20,000. Graduate or professional students may borrow up to $6,000 per year for a total of $40,000. (This total includes Federal Perkins Loans you borrowed as an undergraduate student.)

How to Apply

File a Free Application for Federal Student Aid (FAFSA).

For more information, contact:
Federal Student Aid Information Center
U.S. Department of Education
Phone: 1.800.433.3243
(TTY: 1.800.730.8913)

Up to $5,000 to Complete Your Bachelor's Degree.
See if you are eligible  

A Safe and Easy Way to Save for College.
Learn more  

Do You Want to Go to College?
Check out our step-by-step guide for middle and high school students