Federal Perkins Loan

Federal Perkins Loans

FPL is a low-interest (5 percent) loan, offered to exceptional undergraduate and graduate students with a financial need.

The lender is your school, the loan is given by the government, and you must pay the loan to your school. At least, you will receive the loan in two payments during the academic year.

The mount would be between $4,000 to $20,000, as undergraduate student, depending on:
     Your date of application.
     The funding level of the school.
Although, you will not pay for other charges, you should not miss a payment or pay less because you might have to pay a plus.

The "grace period" is a term used when the student begins the repayment. Once you graduated or left the school, and you were attending half time school, your grace period is 9 months. Otherwise, you must check with your school to determine your grace period.

For more information click here.