Federal Perkins Loan Program - Loans are awarded to students on the basis of financial need. These loans are not repayable until nine months after termination of the student's academic enrollment, at which time it becomes payable at a low annual interest rate of 5%.
A Perkins Loan is a federally funded program administered by Mansfield University. You must have a demonstrated financial need and the loan amount will be dependent upon the number of eligible applicants and available funds. The awarded loan amounts range from $400 to $2000 annually. Questions regarding Perkins Loan eligibility should be directed to the Financial Aid Office.
All Federal Perkins Loan recipients will receive pre-loan counseling information explaining the different components of the program. All recipients are also required to complete an online entrance and online exit interview.