Federal Perkins Loan
AS DIRECTED BY THE U.S. DEPARTMENT OF EDUCATION, EFFECTIVE OCTOBER 1, 2017, SCHOOLS CAN NO LONGER AWARD FEDERAL PERKINS LOANS TO STUDENTS!
This loan was awarded by the UGA Office of Student Financial Aid (OSFA) and outstanding loans are administered at the University level.
Funds borrowed under this program are repaid to the UGA Bursar’s Office.
Outstanding Perkins Loans are interest free until the student enters his or her repayment period, which begins 9 months after the student enrolls in fewer than 6 hours, or does not enroll, or graduates, then interest accrues at 5% per annum.
2017-18 Award Year:
- The undergraduate student maximum Award Year amount was $5,500.
- The minimum award amount was $100 per semester.
Students Who Were Awarded the Perkins Loan for 2017-18 Must:
- meet all Basic Student Eligibility criteria,
- be enrolled in a baccalaureate degree program,
- qualify as either a Federal Perkins Loan Current UGA Undergraduate Student or a Federal Perkins Loan New UGA Undergraduate Student,
- cannot have reached the applicable Federal Perkins Aggregate Loan Limits,
- have unmet need greater than $100 per semester, and
- the first disbursement of their 2017-18 Perkins Loan must have been made prior to October 1, 2017.
Enrollment status requirements are:
- Students enrolled on at least a half-time basis generally remain eligible for that semester’s Perkins loan.
- Students enrolled less then half-time may not remain eligible for the loan if their adjusted Cost of Attendance (COA) results in their award exceeding their recalculated Unmet Need.
- Students enrolled less than half-time begin their 9 month Perkins Loan grace period as of the date their enrollment status changed to less than half-time.
Important Dates for Limited Need-Based Funds Consideration:
Federal Perkins Loan awarding was subject to Important Dates for Limited Need-Based Funds Consideration.