Carnegie Mellon University

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. 

Loan Details

  • 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