The Perkins Loan is a no-fee, fixed-rate, low-interest, and need-based federal loan for undergraduate and graduate students. It is administered by UHCL. The federal government funds the loan but the school acts as the lender.
How do you repay your Perkins loan?
You begin repayment 9 months after graduation, or 9 months after you drop below half-time enrollment or leave school. You have up to 10 years for repayment of a Federal Perkins Loan.
Interest Rate and Origination Fee
The Perkins Loan interest rate is fixed at 5%. There is no origination fee.