Federal Perkins Loan
The Perkins Student Loan is a low-interest (5 percent) subsidized federal loan administered by Gallaudet. Perkins loans are available to students who have "exceptional financial need." Undergraduate students may borrow a maximum of $5,500 per year, depending on the availability of funds and individual financial need. Graduate/Professional students may borrow a maximum of $8,000 per year, depending on availability of funds and individual financial need.
The aggregate Federal Perkins Loan Program limit is $27,500 for a student who has not yet completed a program of undergraduate study and $60,000 for a graduate or professional student, including loans borrowed at the undergraduate level.
Repayment begins nine months after a student graduates, withdraws, or drops below half time. (Grace periods may vary for less-than-half-time students.) Students are allowed up to 10 years to repay, with a minimum monthly payment of $40 (depending on date of loan disbursement and aggregate amount borrowed). Deferments, forbearance, and/ or cancellation of payments are available to eligible students and must be requested.