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College Planning & Financial Aid

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  4. In the college financial aid process , what is a Federal Perkins loan ?

In the college financial aid process , what is a Federal Perkins loan ?

Federal Perkins loans are low-interest, federally-funded loans for undergraduate and graduate students. The loans are available on a limited basis to students with very high financial need. Nine months after graduation or leaving school, the interest and principal repayment commences. The repayment term is up to ten years with a $40 minimum payment due.

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