Federal Perkins Loans

The Federal Perkins Loan program is a Federal Campus-Based program and as such has limited funding. This loan program is administered at the University level and funds borrowed under this program are repaid to the UGA Student Accounts office.

Student eligibility for the Federal Perkins Loan is based on Estimated Financial Need as determined by the Financial Aid Application Process.  Otherwise eligible students cannot have an adverse credit/payment history with the University.

Federal Perkins Loans are awarded subject to the Priority Consideration Dates for Need Based Limited Funds. Federal Perkins Loan funding is now very limited at the University because the U.S. Congress has not provided additional capital to participating colleges and schools in recent years and fewer students are in an active Perkins Loan repayment status.

Federal Perkins Loan repayment begins nine months following graduation, or enrollment on less than a half-time basis or after leaving school. There is no interest charged until the student enters repayment, then interest accrues at 5% per annum during repayment.

Awarded students must complete a paper Federal Perkins Loan Promissory Note which is separate from the Master Promissory Note that is required for the Federal Direct Loan Program.  In addition the student must complete a separate paper Federal Perkins Loan Entrance Counseling process. Once an awarded student accepts the Federal Perkins Loan offer, UGA Student Accounts provides the student the Federal Perkins Loan Promissory Note and Entrance Counseling documentation.

Per the Office of Student Financial Aid's institutional policy, the maximum per semester Federal Perkins Loan amounts are $2,000 for undergraduates and $3,500 for graduate/professional students. The federal regulatory annual Perkins Loan maximums are $5,500 for undergraduates and $8000 for graduates/ professional students. Otherwise eligible undergraduate and graduate students generally must have an Expected Family Contribution (EFC) less than or equal to $5,000.

Undergraduate students are limited by federal regulations to a cumulative $11,000 in Federal Perkins Loans until 60 semester hours have been earned and then are limited to a $27,500 cumulative loan limit. Graduate students are limited to $60,000 in cumulative Perkins Loans as an undergraduate/graduate.