Federal Perkins Loans

Loan Information

The Federal Perkins Loan is one of the best student loan options available. Interest accrual and repayment does not begin until nine months after graduation or falling below less than half-time enrollment. The Perkins Loan funding is extremely limited and is offered on a first-come, first-served basis to eligible students.


  • 5.00% Fixed Interest Rate
  • Zero Loan Processing or Origination Fees

Perkins Loans

  • Do not accrue interest while the student is enrolled at least half-time
  • Are need-based as determined by the FAFSA
  • Students must complete a FAFSA for the appropriate aid year and complete any other missing requirements (such as verification)
  • Student must complete the Perkins Loan Promissory Note/Disclosure Statement 


  • Student must be enrolled in a degree-granting program
  • Half-time attendance is not required, however if less than half-time, payments may be required while student attends school
  • If less than half-time, nine month grace period begins immediately
  • Students who have used their 9 month grace period and again enroll at least half-time, will receive an additional 6 month grace period when they cease half-time enrollment

Important Notes

  • To complete a Perkins Promissory Note/Disclosure Statement, student will need to create a new username and password by clicking "Create Online Account".
  • The FSA ID is not valid on the Perkins/UAS website.
  • The "identification number" is the student's social security number - not the Ferris student ID.

Perkins Loan Links