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Federal Perkins Loan

Eligibility

Complete FAFSA and demonstrate financial need. At NSU, the Perkins Loan is only awarded to undergraduate students who have previously been awarded a Perkins Loan at NSU.

Exit Interview required after student drops below half time.

Interest Rates

  • 5 percent

Annual/Aggregate Loan Limits

  • Federal Annual Limit: $5,500
  • NSU Annual Limit: $2,000
  • Maximum Life-time Loan Limit: $27,500
  • No minimum award

Length of Repayment

Payment is made to school that made loan. Grace period is 9 months. Up to 10 years to repay, depending on amount owed.

Disclosure Statements

According to federal regulations, institutions are required to disclose specific information to Federal Perkins Loan borrowers. Please click to view the NSU Disclosure Statements for Federal Perkins Loan Borrowers.

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