Perkins loan qualification requirements

• Enrollment in an eligible school at least half-time in a degree program
• U.S. citizenship, permanent residency, or eligible non-citizen status
• Satisfactory academic progress
• No unresolved defaults or overpayments owed on Title IV education loans and grants
• Satisfaction of all Selective Service requirements

You must submit the Free Application for Federal Student Aid (FAFSA) to apply for the federal Perkins loan.

If you qualify

The U.S. Department of Education provides funding to your school. In turn, your school determines which students have the greatest need. Your school combines federal funds with some of its own funds for Perkins loans for qualifying students.

Your school pays you directly (usually by check) or applies your loan to your school charges. You'll receive the loan in at least two payments during the academic year.

Federal Perkins loans share many of the characteristics of subsidized Stafford loans. The most notable differences are no fees, a longer grace period, and school disbursement.