ATTENTION: The federal government has not authorized an extension of the Federal Perkins Loan program for the 2018-2019 academic year; therefore, there will be no new recipients of the loan.
Federal Perkins Loan
A Perkins Loan is a low-interest (5%) federal loan administered by Carnegie Mellon, available to undergraduate students who have exceptional financial need and meet other eligibility requirements.
- Repaid in installments over a 10-year period beginning nine months after the student graduates or leaves school for other reasons
- Accrues no interest during the time the student is enrolled at least half-time (18 units per semester)
- Has an interest rate of 5% per year that is assessed beginning with the repayment period