To qualify for the Federal Perkins Loan, you must have financial need as determined by the Financial Aid Office. This loan is awarded on a first come basis. To improve your chances of being offered this loan you should have a complete financial aid file by April 1st. No repayments are due and no interest accrues until 9 months after you graduate, leave college, or cease to be enrolled as a half-time student. The simple annual interest rate is 5%. The minimum repayment is $40 per month, providing the entire loan can be repaid within ten years. A portion of the debt can be canceled for teaching in certain communities or neighborhoods, or for service in Head Start programs, Peace Corps, law enforcement, special education, math, science, foreign language education, and nursing. As with all student loans, you will be required to complete an Exit Counseling Session online fo repayment options. Students who are offered and accept a Perkins Loan must complete a Personal and Confidential Information Sheet and read the Borrowers' Rights and Responsibilities.
Ford Direct Student Loans are automatically processed for students who indicated on the FAFSA they are interested. If you did not indicate on your FAFSA that you wanted a student loan, you must submit form #22 for the appropriate aid year (UWG Financial Aid Online Forms) to the UWG Financial Aid Office for consideration.