Perkins Student Loans Help Fund College Education

Added August 22, 2005 by Think Glink Staff

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Summary: When you're trying to fund college you should look into all borrowing options. If you have significant financial need you may qualify for a federal Perkins loan. To see if you're eligible, you should fill out a Free Application for Federal Student Aid (FAFSA) form.

Q. What is a Federal Perkins Loan?

A. Federal Perkins Loans are low-interest (5 percent) loans for eligible undergraduate and graduate/professional students with significant financial need. 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.) Students can find out if they qualify by completing a FAFSA application.

Return to Frequently Asked Questions about Saving for College.

Aug. 22, 2005.

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