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| Perkins
Loans :
A Perkins loan is considered the “best”
student loan available; however, they are limited
and awarded selectively. This type of loan is a federally
subsidized loan based entirely on the financial need
of the student. The college’s Financial Aid
Office will determine if a student qualifies for the
loan, and subsequently the amount of the loan.
Eligibility
– Student must be a citizen
or permanent resident of the United States. Student
must be enrolled in a post-secondary institution as
either a full or part-time undergraduate or graduate
student.
Interest Rate – Currently,
the interest rate is 5% and fixed for the life of
the loan.
Pluses
• No origination or insurance fee
• Up to 10 years to repay the loan
• Federal government pays interest of loan while
student is in school
• Student has 9 months from leaving school to
begin repayment
• Partial loan forgiveness available to students
who enter fields such as criminal justice, nursing,
Peace Corps volunteer, Armed Forces, and certain teaching
subjects.
Minuses
• Not all colleges have Perkins loans available
• Due to limited amount of funds available,
loans are selectively awarded by colleges
• Undergraduates are limited to $4,000/year
and $20,000 maximum
• Graduates are limited to $6,000/year and $40,000
maximum
Click here
to see if you are eligible for Financial Aid
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ø ALL
Student Loan - A non-profit family of organizations committed
to helping make education affordable for students and parents. Since
1980, we have been putting your financial interests first! Let us
guide you safely through the student loan process.
ø
CaliforniaColleges.edu
- A powerful, open-ended site rich with content that makes finding
and applying to a school in California a snap.
ø Federal
Student Aid Information Center - Funding Your Education,
an introductory publication for students not yet enrolled in a postsecondary
school, provides general information about the U.S. Department of
Education's federal student financial aid programs and how to apply
for them.
ø InternationalStudent.com
- We are excited to offer student loan programs for US citizens studying
abroad and international students around the world. We offer a variety
of programs based on the country you are from and where you are studying.
ø StudentLoanNet
- No matter who you are or where you are on the road
to planning and paying for college we can help you. We have targeted,
pertinent information and tools.
ø Wells
Fargo Bank - We’ll guide you through the loan
process, from application to repayment.
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