Federal Perkins Loans
Federal Perkins Loans are federally funded loans and are offered through UNCW to undergraduate, graduate and professional degree students who demonstrate financial need. To qualify, students must complete a FAFSA. Perkins Loans are offered as part of the financial aid package
The interest rate on federal Perkins Loans is fixed at 5 percent. Repayment begins nine months after graduation (or enrollment status less than half-time)> Students have up to 10 years to re-pay.
Because Perkins funding is limited, students who are otherwise eligible may not receive Perkins Loans. Students are encouraged to complete the FAFSA as early as possible for maximum consideration.
Perkins Loan borrowers may be eligible for loan cancellation if they perform qualifying service in certain areas. These areas include full-time teaching in schools with a high concentration of students from low-income families, law enforcement, military service, nursing, Peace Corps and others. Students should review their Perkins Loan Terms and Conditions Statement for further information.
Students who receive Perkins Loans are required to attend a Perkins Loan Exit Counseling Session at the end of their last semester of their senior year. Students receive email notification regarding Perkins Loan Exit Interview Schedules during the last weeks of the term.
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