Federal Perkins Loans

The Perkins Loan is a no-fee, fixed-rate, low-interest, and need-based federal loan for undergraduate and graduate students. It is administered by UHCL. The federal government funds the loan but the school acts as the lender.

You can apply for a Perkins loan if you:

• Have financial need as determined by FAFSA guidelines and you have submitted your FAFSA by the April 1 priority deadline
• Enroll at least half-time at UHCL (3 hours for graduate and 6 hours for undergraduate students)
• Maintain satisfactory academic progress
• Not in default on any federal loan
• Do not owe a Title IV overpayment
• Not applying for a loan that exceeds your annual or lifetime total limits

How do you repay your Perkins loan?

You begin repayment 9 months after graduation, or 9 months after you drop below half-time enrollment or leave school. You have up to 10 years for repayment of a Federal Perkins Loan.

Interest Rate and Origination Fee

The Perkins Loan interest rate is fixed at 5%. There is no origination fee.

How to apply for a Perkins Loan

• Indicate an interest in student loans on the FAFSA form.
• Accept the Perkins Loan offered as part of your aid package in E-Services.
• Complete the electronic Perkins master promissory note in E-services.
• Complete Perkins Loan Online Entrance Counseling online.  

Disbursements--getting the money

Once we receive the Perkins MPN and verify the Perkins entrance loan counseling, your loan will be ready for disbursement. We will credit the funds to your account about a week before classes begin each semester.