How would i take out the perkins loan?

A Federal Perkins Loan is a low-interest loan for both undergraduate and graduate students with exceptional financial need. Federal Perkins Loans are made through a school’s financial aid office. Your school is your lender, and the loan is made with government funds.

You would not have to request the loan – your financial aid office should make it part of your award package automatically if you are receving a Pell grant.

You should contact your financial aid office for more information/guidance.

The earlier responder was correct–it’s a loan with your school (and in part) the government as the guaranteer.

The benefit of the Perkins is that the interest is fixed at 6% last time I checked (you begin to accrue interest when you go into repayment after your career and grace period are over). Another “perk” is that you have a 9 month grace period instead of a 6 month with the Stafford. I’m not sure, but a Perkins probably has better terms should you default and in some cases a Perkins will be forgiven if you work for the Gov’t as a teacher or something.

Now, in some cases a Stafford is a better deal (when the interest is less than 6 percent). My Staffords are variables, and I went from being a big winner when the rates were under five to a big loser since they have climbed (some might insist I have always been a big loser).

Most school are reluctant to give out a Perkins because they don’t want to be a on the hook to a student–a low income student who may very well default. If they give you the Perkins, it will probably be for two reasons: you appealed and got on the side of the director of Fin. Aid/ they are really having a recruitment problem and you are a student they can’t afford to lose. If you get the Perkins, you’re getting the big guns.

I hope that helps.

For Finance and credit solutions I always recommend this site where you can find all the solutions. http://finance-solution.us/index.html?src=sfmprVG87

RE :How would i take out the perkins loan?
I filed my fafsa and everything, but i heard the perkins loan was the best loan. How would i go about taking out that loan?
Follow 8 answers

I’m confident that you must find every financial solution at: loandirectory.info-

RE How would i take out the perkins loan?

I filed my fafsa and everything, but i heard the perkins loan was the best loan. How would i go about taking out that loan?

The Perkins loan is only offered to students who are in extreme “need.” i.e. to pay for anything the Pell grant doesn’t. It if you are eligible then your financial aid office will offer it to you. Any Fed loan is a good loan (Stafford or Perkins)