Loans

Federal Perkins Loans

The Federal Perkins Loan is a federal loan with very limited availability. This loan 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 drop below half-time enrollment.

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

To accept this Perkins Loan:

1. Go to your myUT account to “Accept Aid”.
    
2. If this is your first Federal Perkins Loan at The University of Toledo, follow this link to complete Federal Perkins Loan Entrance Counseling
    
3. Complete, sign, and return the Federal Perkins Master Promissory Note (MPN) (which will be mailed to you).