The Perkins loan is a low-interest loan available to both graduate and undergraduate students with great financial need. UCCS acts as the lender using a limited pool of funds provided by the federal government. Interest is subsidized (paid) by the government while the student is in school and during the nine-month grace period after the student leaves school or drops below half-time enrollment status. Loans enter repayment after the grace period.
The Federal Perkins Loan program will be discontinued for new borrowers starting Oct 1st, 2015. Students may continue to receive Perkins loans if they:
Please note that if you received your first Perkins Loan disbursement after June 30, 2015 and prior to October 1, 2015 you will not be eligible for further Perkins Loan disbursements beyond the 2015-2016 award year.
The Perkins loan is at a fixed 5% interest rate.
Perkins loans are not subject to any loan fees.
|Perkins Loan Limits|
|Level||Annual Limit||Aggregate Limit|
Note: It is at the discretion of the Institution to award less than the annual limits.
All Perkins borrowers are required to complete Perkins exit counseling once they have graduated or ceased half-time enrollment. You will receive a letter from Campus Partners, a third-party servicer for the university, when your exit counseling becomes available to complete.
In some cases, you may be allowed to postpone your loan payments by either receiving a deferment or forbearance. Check with the Loan Administration Office, second floor Main Hall, to see if you qualify for a deferment or forbearance.
Your Federal Perkins Loan may be cancelled under certain conditions. For more information, visit our servicer, Campus Partners, and their loan cancellation page or check with Student Financial Services for more information.