The Federal Perkins loan is a subsidized loan program and is awarded to students based on need. The federal government pays the interest during the in-school period and during the 9-month grace period. The interest rate is fixed at 5% and begins upon repayment.
Students who receive a Perkins loan will receive this loan once they have completed all the requirements. The Bluffton University Business Office will contact new eligible students about completing the MPN and the entrance counseling session during fall orientation in late August.
If the student’s award letter indicates eligibility for the Perkins loans, there is not a separate application process. There are no origination fees.
