Perkins Loan Overview
What is a Perkins Loan?
A Perkins Loan is a low interest (5%) student loan for both undergraduate and graduate students with exceptional need. UNO is the lender for this type of federally funded loan.
Receiving the Funds
Once the student accepts the award and turns in their award letter, he or she should receive instructions, by email to their gmav account, from the Perkins Loan Office.
First time borrowers must complete an on-line entrance loan counseling. Once entrance counseling is completed, and the student is registered at least half-time, the loan disbursement will be credited to the student's tuition and fee account.
Repaying a Federal Perkins Loan
Nine (9) months after the student ceases to be enrolled at least half-time.
Federal Perkins Loan Deferment Benefits
Enrollment, unemployment, economic hardship, military, and pre-cancellation benefits. Learn more about repayment options.
Canceling a Federal Perkins Loan
Yes, a portion or all of the loan can be canceled for certain types of full-time public service employment. Contact our office or visit the cancellation benefits page.
Benefits of a Federal Perkins Loan as Opposed to or in Addition to Other Student Loans
- Low interest rate of 5%
- Nine month (interest free) grace period
- Cancellation benefits
- Deferment benefits
- Loan repayments allow future students to borrow from this revolving fund
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