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.
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 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.