|
The Federal Perkins Loan program is a financial aid that is based in the school and made available to both graduate and undergraduate students. Not all universities receive yearly federal Perkins Loans allowances. The participating college and universities determines which prospective borrowers are deserving of the funds. Perkins is a very in-demand fund so it is advisable that students will apply the earliest in order to qualify for the loans. Some universities – in order to accommodate more students – add their own funds to the Perkins. A student who is able to obtain a federal Perkins loan can directly get the funds from his choice of school. The fund is subsidized, which means the federal government pays for the accrued interest while he is enrolled in the university up to the grace period. It may be that more are qualified for another type of loan which is Stafford, however many students are attracted to federal Perkins loan because it is known to have the lowest available cost. Who does one qualify for Perkins loans? Do they have stringent list of requirements in order to avail of this education fund? Actually the most important qualifying factor for qualification to the Federal Perkins loan is the applicant’s financial need. However, apart from these requirements, there are also a number of requirements that you must have in order to obtain and enjoy this fund. Here are the requirements for Federal Perkins Loan: The student must be financially needy. He should be enrolled in the school that participates in the loan program at least half time. The student must be a United States citizen – or he can be a permanent resident or an eligible non-resident. He must not have committed default on any past loan. He must present good or satisfactory grades. For more interesting and relevant federal and private student loan articles and discussions, do visit http://fussaboutloans.com/ blog.
Related Articles -
federal, perkins, loan, loans, debt, college, school, government,
| 
