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Federal Perkins Loan

General Information
Federal Perkins Loans are low interest (five percent during repayment, which begins nine months after the borrower is no longer enrolled in school at least half-time) federal loans offered to eligible students with financial need. Interest on the Federal Perkins Loan does not accrue before repayment begins. The Federal Perkins Loan program is a campus-based program, which means that the school is the lender. Although Tulane is the holder of your loan, all billing and servicing of your loan is coordinated through ACS Education Services. However, students may contact the Tulane Student Loan Office (504.865.5366) with any questions.

Annual and Aggregate Loan Limits
Depending on when a student applies, their level of need, and the funding level of the program:

  • Undergraduate students can borrow up to $5,500 for each year of undergraduate study
  • Graduate students can borrow up to $8,000 for each year of graduate or professional study

The aggregate loan limit for undergraduate students is $27,500. The aggregate loan limit for graduate students is $60,000 (including any Federal Perkins Loans borrowed as an undergraduate).

Receiving the Perkins Loan
Tulane will credit the student's account with the Perkins Loan funds once the student has electronically signed or turned in a signed copy of their Perkins Master Promissory Note. Generally, students receive a the loan funds in two payments (one each semester).

Signing the Promissory Note
Students who borrow under the Federal Perkins Loan program must sign their master promissory note.  Please wait until you receive an email notification that your promissory note is available for your signature before attempting to sign onto the following website (through which the promissory note is available after completion of the entrance interview only if it has already been prepared specifically for you): http://www.fc.campusoncall.com/cgi-bin/home.pl?campus=Tulane

Repayment of the Perkins Loan
Once a student graduates, leaves school, or drops below half-time enrollment, the student will have nine months before s/he begins repayment. This is called the "grace period". During the grace period, students will not have to make any payments on the outstanding principal.


 

Page last modified on  August 13, 2015.

University Financial Aid, New Orleans, LA 70118 504-865-5723 finaid@tulane.edu