Federal Perkins Loan


The Federal Perkins Loan Program provides low-interest loans to help needy students finance the costs of postsecondary education. Borrowers who undertake certain public, military, or teaching service employment are eligible to have all or part of their loans canceled.

Guidelines

  1. These are loans and must be repaid, so please borrow wisely.
  2. You must complete paperwork with the ISU Office of the Controller before you can receive the funds.
  3. A minimum of 6 credit hours of enrollment is required at the time this money is applied to your account.
  4. Repayment begins 9 months after you graduate or leave school.
  5. The interest rate is 5%.
  6. Cancelation provisions exist due to service in certain fields of work.
  7. Funds are paid directly to your ISU account.