Frequently Asked Questions
What is a Federal Perkins Loan?
- A low interest (5%) student loan for both undergraduate
and graduate students with exceptional need. The school
(UNO) is the lender for this type of federally funded
loan.
If awarded the loan, how does the student receive the
funds?
- Once the student accepts the award and turns in their
award letter, he or she should receive instructions by
mail from the Perkins Loan Office.
- First time borrowers must attend a loan counseling
session to sign their promissory notes, returning
borrowers are mailed their notes to sign and return.
- Once paperwork is completed, and the student is
registered at least three-quarter time, the loan
disbursement will be credited to the student's tuition
and fee account.
When is the Federal Perkins Loan repaid?
- Nine months after the student ceases to be enrolled at
least half-time.
What are the Federal Perkins loan deferment
benefits?
Can the Federal Perkins Loan be cancelled?
- Yes, a portion or all of the loan can be cancelled for certain types of
full-time public service employment. Contact our office or go to cancellation
benefits.
Why borrow a Federal Perkis Loan as opposed
to or in addition to other student loans?
- Low interest rate of 5%
- Nine month (interest free!) grace period
- Cancellation benefits
- Deferment benefits
- Loan repayments allow future students to borrow from this
revolving fund.
Return to:
Perkins
Loan Office
