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Federal Perkins Loan

Who Is Eligible?

The Federal Perkins Loan is a low interest loan awarded to students who are either U.S. Citizens or permanent residents. The student must have completed all necessary financial aid documents and be enrolled full time. If the student is eligible for the Federal Perkins Loan it will be reflected on the student's award letter.

Amount of Eligibility

Award amounts vary from year to year, but cannot exceed the $4,000 annual maximum.

Interest Rate

The interest rate for this loan is 5% fixed.

Disbursement Requirements

If the student was eligible for a Federal Perkins Loan (see the student's award letter) a promissory note and disclosure form must be completed. Perkins Loan Promissory Notes are completed electronically.  The Business Office will send detailed instructions and a link to students who have been awarded a Perkins Loan. In addition, a Financial Aid Conditions & Authorizations form must be completed with the Office of Financial Aid.

Your Federal Perkins Loan funds will be applied to your Whittier College student account in two disbursements. The first disbursement will arrive in the fall semester with the second disbursement in the spring.


Repayment begins nine months after the student graduates or ceases to be enrolled full time. The maximum repayment period is ten years. There are many loan forgiveness programs which may forgive all or part of the Federal Perkins loan.