Program Description
The Department OF Education has launched the Federal Perkins Loans aiming to help financially needy undergraduate students and graduate students meet the cost of postsecondary education. The award is made by the school based on the availability of funds. A Federal Perkins Loans carries a fixed interest rate (currently 5%) and must be repaid beginning after a nine-month grace period following the date when the student is no longer enrolled on at least a half-time basis.
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