Federal Perkins Loans

The Federal Perkins Loan is a federal loan with very limited availability. This loans has a fixed interest rate of 5% and does not accrue interest while enrolled in school at least half-time (six credit hours). Repayment begins 9 months after you graduate or are no longer enrolled at least half-time.

If you graduate or drop below half-time, you must complete an Exit Counseling Session. Failure to complete this session may result in a hold on your account and transcripts will not be released.

1. Accept the Federal Perkins loan by returning the signed Award Notification to OSFA.
    
2. Complete, sign and return the Federal Perkins Master Promissory Note (MPN) to the OSFA. (MPN will be mailed up to two weeks prior to the start of fall semester and available at the Rocket Solution Central Office after that time.)
    
3. If this is your first Federal Perkins Loan at The University of Toledo you will be required to complete Federal Perkins Loan Entrance Counseling