Federal Perkins Loan

Must Read

Why Private Student Debt Consolidation Loans Are the Key to Financial Stability

When you are a full time college student with many things to get done on a very limited amount...

Easy Way to Obtain Best College Student Loan Consolidation Rate

Many people are talking about college student loan consolidation currently. What is it about? What does "consolidate" mean? It...

Home Equity Line of Credit – Is It For You?

Home Equity Line of CreditLet's set the stage by stating that a home equity line of credit is an...

The Perkins loan is a federal student loan available for students attending an accredited college or university. Students must be in their first undergraduate or graduate program and have any extraordinary financial need. In order to determine if a student is eligible to receive a Perkins Loan, students must complete and submit the FAFSA, or Free Application for Federal Student Aid.Students will receive an EFC score from the Department of Education, which will determine how much a student is eligible to receive in federal financial aid. Students that are unable to contribute $0 will have a score of 0, while a student that is able to pay for all college expenses will have an EFC score of 3,000. As you can see, the range for an EFC score is between 0 and 3000. Students in the lower EFC score range will be eligible to receive a Perkins Loan.The student’s college/university is the lender of the loan, which means all disbursements will be made out to your school. The lending process is fairly simple. First, the federal government will distribute federal funds to participating colleges, who then lend these funds to attending students. When the student had completed their program or is no longer enrolled then they will make all repayments back to their school, who will then send the borrowed funds back to the federal government.There are many advantages with the Perkins Loan, which includes very competitive interest rates for borrowers and friendly loan repayment terms. The Perkins Loan interest rate is currently at 5% and is variable, which means it can fluctuate throughout the term of the loan. Even though the interest rate is variable, it is still variable competitive when you compare it against other private bank student loans. Another advantage of this loan is that it offers very friendly repayment terms. Students have an option to choose from multiple repayment plans that suites their best needs.


Please enter your comment!
Please enter your name here

Latest News

Underlight As Accent, For Power and The Main Light for Photography

Underlighting, in which fill or accent light comes from under the topic, is not widely used technique in the traditional Portraits,...

How To Fix Overexposure As A Creative Tool, The Complete Guide

As an creative tool, overexposure is sort of underrated. What I’m close to propose could be a deliberate and well thought out technique for...

7D Mark II is Canon’s best DSLR cameras without full-frame sensor.

The expected long-awaited Canon EOS 7D Mark II are shipping in November for $ 1,799 without a lens. With a higher price tag, you...

Low key photography and How to isolate your subject.

Low key photography doesn’t depend on underexposure to make its point; the key to low key is that the majority of tones, even correctly...

High Key Lighting Techniques for Professional Photographers

I’ve written many times about high key lighting techniques and how to achieve them. The term “high key” is a bit misleading. As I’ve...

More Articles Like This