Definitions for "Perkins loan"
A need-based, low-interest loan available to students rather than their parents....
Formerly the National Direct Student Loan Program, the Perkins Loan allows students to borrow an amount determined by the Financial Aid Office. The Perkins Loan has one of the lowest interest rates and is awarded by the financial aid administrator to students with exceptional financial need. The student must have applied for a Pell Grant to be eligible. The interest on the Perkins Loan is subsidized while the student is in school.
Formerly the National Direct Student Loan Program, the Perkins Loan allows students to borrow up to $4,000/year for undergraduate school and $6,000/year for graduate school. The Perkins Loan has one of the lowest interest rates and is awarded to students with exceptional financial need. The student must have applied for a Pell Grant to be eligible. The interest on the Perkins Loan is subsidized while the student is in school. At UNT, graduate students are given first priority for Perkins funding.