Federal Campus-Based Loan Programs
Federal Perkins Student Loan
- Borrower makes no payments during in-school and grace periods.
- Borrower is not responsible for interest accrued during in-school and grace periods.
- There is no origination fee or default fee.
- A grace period of 9 months follows graduation or less than half-time enrollment.
- The interest rate is fixed at 5.0% beginning at repayment.
- Repayment begins after grace period with minimum monthly payments of $40 and a maximum repayment period of 10 years.
- There is no penalty for prepayment.
- Cancellation provisions for certain types of full-time employment are available.
- Perkins is a campus-based loan program; and therefore, the funds are limited. The funds are awarded on a first-come-first-served basis; and therefore once the funds have been exhausted, all eligible students may not be awarded Perkins funds.
- The amount of the loan does not exceed $4,000 per academic year for undergraduate students with a $20,000 cumulative maximum or
- The amount of the loan does not exceed $6,000 per academic year for graduate students with a $40,000 aggregate maximum including undergraduate loans.
Federal Nursing Student Loan
- Borrower makes no payments during in-school and grace periods.
- Borrower is not responsible for interest accrued during in-school and grace periods.
- There is no origination fee or default fee.
- A grace period of 9 months follows graduation or less than half-time enrollment;
- The interest rate is fixed at 5.0% beginning at repayment.
- Repayment begins after grace period with minimum monthly payments of $40 and a maximum repayment period of 10 years.
- There is no penalty for prepayment.
- NSL is a campus-based loan program; and therefore, the funds are limited. The funds are awarded on a first-come-first-served basis; and therefore once the funds have been exhausted, all eligible students may not be awarded NSL funds.
- The amount of the loan does not exceed $4,000 award per academic year
- The aggregate maximum of the loan is $13,000 over 4 years.
Health Professions Student Loan – only dental students
- Borrower makes no payments during in-school and grace periods.
- Borrower is not responsible for interest accrued during in-school and grace periods.
- There is no origination fee or default fee.
- A grace period of 12 months follows graduation or less than half-time enrollment.
- The interest rate is fixed at 5.0% beginning at repayment.
- Repayment begins after grace period with minimum monthly payments of $40 and a maximum repayment period of 10 years.
- There is no penalty for prepayment.
- HPSL is a campus-based loan program; and therefore, the funds are limited. The funds are awarded on a first-come-first-served basis; and therefore once the funds have been exhausted, all eligible students may not be awarded HPSL funds.
- Eligibility for the Loan
- Has demonstrated financial need as determined by the Office of Student Financial aid. Financial need includes parental data
- The amount of loan does exceed Cost of Attendance minus EFC and other financial aid.
Federal Loan for Disadvantaged Students (LDS)
- Borrower makes no payments during in-school and grace periods.
- Borrower is not responsible for interest accrued during in-school and grace periods.
- There is no origination fee or default fee.
- A grace period of 12 months follows graduation or less than halftime enrollment.
- The interest rate is fixed at 5.0% beginning at repayment.
- Repayment begins after grace period with minimum monthly payments of $40 and a maximum repayment period of 10 years.
- There is no penalty for prepayment.
- LDS is a campus-based loan program; and therefore, the funds are limited. The funds are awarded on a first-come-first-served basis; and therefore once the funds have been exhausted, all eligible students may not be awarded LDS funds.
- The amount of the loan does exceed Cost of Attendance minus EFC and other financial aid.
*All information is subject to change.