The Federal Perkins Loan Program offers an attractive 5% interest rate and a repayment    period of up to ten years. The terms of the loan and all disbursements made shall be interpreted in accordance with part E of Title IV of the Higher Education Act of 1965, as well as Federal regulations issued under the act. Some features of this program are:

• 5% Annual Percentage Rate on the unpaid balance
• No interest accrues during periods of deferment.
• No payments while enrolled at least half-time in a fully accredited college or university.
• 9 month grace period before payment begins.
• No penalty for early repayment.
• Cancellations benefits available for Teaching, Law Enforcement or Corrections officer, Nurse or Medical Technician, Child or Family Service Agency,
• Head Start Teaching, Military, Volunteer Service, and Death & Disability
• Eligible for loan consolidation
• Deferment benefits
• Forbearance available

Federal Perkins Loan Master Promissory Note in PDF Format - Click here (255KB, 30 pages)

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Ohio Wesleyan University; Delaware, Ohio. Last updated 04-January-2001.