A low-interest (5 percent) federal loan administered by Carnegie Mellon., available to students who have exceptional financial need as determined by Federal Methodology and Carnegie Mellon.
Repaid in installments over a ten-year period beginning nine months after the student graduates or leaves school for other reasons
No interest accrues during the time the student is enrolled at least half-time (18 units per semester).
An interest rate of five percent per year is assessed beginning with the repayment period.
Requires entrance counseling for first-time borrowers.
Requires exit counseling if a student graduates, leaves, or drops below half-time at Carnegie Mellon.
You receive consideration for a Federal Perkins Loan if you complete a FAFSA and a Carnegie Mellon 2008-2009 Financial Aid Application. There is no separate application for this loan.
Enrollment Services will automatically credit the loan to your student account (one-half in the fall, one-half in the spring).
If you are offered a Federal Perkins Loan, Enrollment Services will notify you regarding the signing of your Perkins Master Promissory Note over Summer. If you do not return a signed Promissory Note, your Perkins Loan will be canceled.