Federal Perkins Loans
The Federal Perkins Loan program is a campus-based student loan program that is jointly funded by universities and the federal government. The authority of universities to issue new Perkins loans to students ended on September 30, 2017, so no new Perkins loans are available. However, many Stanford students have borrowed Perkins loans in prior academic years.
Here are some of the standard attributes of federal Perkins loans:
- No payments are due while the student is enrolled at the half-time level or above at an accredited institution of higher education.
- No payments are due during the nine-month grace period following the end of enrollment.
- Zero interest accrues during enrollment and during the grace period.
- 5.0% interest begins to accrue upon the start of the repayment period.
- The standard repayment period is ten years (120 monthly payments).
- Deferments are available if you enroll in a new degree program, if you become unemployed, or if you meet other criteria defined in the Perkins program regulations.
- Cancelation of part or all of the Perkins loan balance is available for borrowers who meet requirements for careers in teaching, firefighting, and other public service professions.
For payment information, loan status, and questions about deferments and cancellations, please contact University Accounting Service (UAS) online or call (844) 870-8701.
Updated on March 10, 2022 3:11 PM
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