Federal Perkins Loan for Undergraduate Students
Application for this type of financial aid is done by filling out and submitting the Free Application for Federal Student Aid (FAFSA), and basic eligibility requirements must be met, as determined by the federal government.
- Students must accept the Perkins loan within the timeline provided to avoid cancellation of the offer.
- First-time borrowers must also complete an online electronic Master Promissory Note (eMPN) to ensure credit on the bill, and timely disbursement of funds once classes begin. If unable to complete the online eMPN, all 4 pages of the signed, original paper form must be submitted to Financial Aid and Student Records for processing. Faxed or electronic forms will not be accepted.
- Important: According to the Department of Education, the Perkins Loan program is expected to end on September 30, 2017. Therefore, funding will not be available beyond the 2017-18 school year.
Repayment begins nine months after graduation, withdrawal, or enrollment less than half-time (6 credits). The length of the repayment period can vary up to ten years, depending on the amount borrowed. Repayment is made to the State University of New York Student Loan Service Center. If the borrower disputes the terms of the loan in writing and the State University of New York Student Loan Service Center does not resolve the dispute, the borrower can contact the Office of the Ombudsman Student Financial Assistance at:
Office of the Ombudsman
Student Financial Assistance
U.S. Department of Education
Rm. 3012, ROB #3
7th and D Streets, SW
Washington, DC 20202-5144