FINANCIAL AID

Federal Perkins Loan

A federal Perkins loan is a low-interest loan that is available to students with exceptional financial need. Funds are extremely limited, and individual award amounts vary depending on federal limits, student need and fund availability.

Basics

Interest: 5 percent; no interest is charged while you're in school or during the nine-month grace period.

Repayment: Begins nine months after you graduate or leave school. Payments may be extended over a 10-year period. For questions and information on Perkins loan repayments, read the Financial & Tax Services page on the Student Finance website.

Lender: Cal State Northridge is your lender for the federal Perkins loan.

Eligibility Requirements

Eligibility is determined by the Financial Aid & Scholarship Department.

  • Students must apply for financial aid using the Free Application for Federal Student Aid (FAFSA).
  • Students must be U.S. citizens or eligible noncitizens.
  • Students must be enrolled (or plan to be enrolled) in at least six units, or four units for a master's program.
  • Students must achieve satisfactory academic progress as established by the Financial Aid & Scholarship Department.
  • Students must submit all documents requested by the Financial Aid & Scholarship Department.
  • Students cannot be in default on a student loan or owe a repayment on any grants.