Federal Perkins Loan is a low interest rate (5%) loan available to undergraduate and graduate students enrolled at least half-time in an eligible degree or certificate program to pay for their educational costs. Borrowers must demonstrate financial need through their FAFSA to be considered for this loan.
For information on federal loan programs, please refer to The Guide to Federal Student Aid. Your Master Promissory Note (MPN) will also include the terms and conditions of the loan.
Is this your first loan at University of Colorado Denver|Anschutz Medical Campus?
- You must complete the online Entrance Counseling.
- In addition, all Perkins Loan borrowers at the University must complete the Master Promissory Note or MPN (your agreement to repay the loan). Borrowers should retain a copy of the master promissory note. Click on the link on your award page to complete the MPN. To receive the funds, the MPN must be returned promptly.
- Your lender is the University of Colorado Denver | Anschutz Medical Campus and you may contact the Financial Aid Office if you have any questions about this loan. If you have questions about your loan balance, repayment or deferment, contact the Student Loan/Debt Repayment Office.
Eligibility
- Must be enrolled at least half-time in an eligible undergraduate, graduate or professional degree or certificate program.
- Cannot be in default on any federal student loan or owe a refund on a federal student grant
- Must have a valid social security number
- Must be a U.S. citizen or eligible non-citizen (see Student Aid Eligibility)
- Must be registered with the Selective Service, if required
- Continuing students must meet the university Satisfactory Academic Progress (SAP) standards
Loan Limits
| Borrower's Academic Level |
Annual Loan Limit |
Lifetime Loan Limit |
|---|
Undergraduate |
up to $5,500 |
$27,500 |
Graduate or Professional |
up to $8,000 |
$60,000 (including undergraduate loans) |
NOTE: Funding is extremely limited and awarded on a first-come, first-served basis. The amount of financial aid you’re awarded cannot exceed your cost of attendance. Your loan eligibility may be reduced upon receipt of other resources (i.e., scholarship, tuition waiver, etc.).
Loan Counseling:
Students accepting their Federal Perkins loan award must complete the entrance counseling through the Student Loans Repayment/Debt Office before funds can be paid.
Students graduating or leaving the University must complete the exit counseling through the Student Loans Repayment/Debt Office.
These online counseling sessions will provide the student's rights, responsibilities, repayment, consolidation, deferment, forbearance, and default information.
Master Promissory Note (MPN):
Students accepting their Federal Perkins loan award must complete the master promissory note (MPN) before funds can be paid. Students can access the Perkins MPN through Student Center of the UCD Access portal. Instructions are located at the end of the Accept/Decline Financial Aid sheet.
Consolidation
Federal Perkins Loans can be consolidated with other federal loans
Repayment
- Payments and interest are deferred while you’re in school.
- 9-month grace period before repayment begins. Interest does not accrue during the grace period.
- You may pre-pay at anytime without penalties.
- If you have a loan in grace and are ordered to active duty, you are eligible to have one or more military extensions of the grace period, for up to three years. This includes the time necessary to resume enrollment at the next available enrollment period. If you are called to active duty during the initial grace period, a new nine-month initial grace period can be granted upon completion of the excluded period.
- Interest is not charged during deferment periods.
- Please contact the Student Loan Repayment Office at 303-556-2937 for repayment information and deferment or forbearance options
- More information is available on Student Aid on the Web under Repaying Your Loans
|
|