The Federal Perkins Loan Program was phased out on September 30, 2017. No new loans can be made after September 30, 2017.
What is the Perkins Loan?
The Perkins Loan is a low interest loan program that is funded by the Federal government and administered by the University. Loans are made in the student's name.
How do I apply for a Perkins Loan?
In order to apply for the Perkins Loan, you must complete the FAFSA application by Pitt-Johnstown's April 1 priority filing deadline. If we determine that you are eligible to receive the Perkins Loan, you will need to complete the Master Promissory Note (MPN) online at https://www.ecsi.net/promW2.
NOTE: Your FAFSA FSA ID is required to complete this process. If you do not have a valid FSA ID (or don't remember your FSA ID), you can get assistance at the Department of Education site: https://fsaid.ed.gov
How much can I borrow?
The award amount and the eligibility requirements for the Perkins Loan are determined by the Financial Aid Office; therefore, it is not uncommon for award amounts to vary from school to school, since each institution is responsible for developing its own eligibility criteria.
What is the interest rate?
The interest rate on a Perkins Loan is fixed at 5%.
When does repayment begin?
Repayment on the Perkins Loan begins 9 months after the student graduates, withdraws, or enrolls less than half-time (6 credits).