IMPORTANT NOTICE:

As a result of the Perkins Loan Extension Act of 2015, the Federal Perkins Loan Program is scheduled to expire at the conclusion of the 2017-18 academic year. Unfortunately, no further extension has been issued. The consequence of this expiration is that all institutions of higher education, including University of Puget Sound, are no longer authorized to make new Federal Perkins Loans beginning with the 2018-19 academic year.

 

Repayment

The Perkins Loan interest rate is fixed at 5% and is interest free while you are enrolled at least half time. Repayment begins nine months after graduation or when dropping below half-time enrollment. You can expect to hear from your lender about 30-45 days before the first payment is due.

Cancellation

You may have all or part of your Perkins Loan canceled for full-time employment in certain types of service.

Deferment and Forbearance

You may be eligible for temporary postponement of your Perkins Loan payments.