The Perkins Loan program is a low-interest (5 percent fixed) loan for both undergraduate and graduate students with financial need. Your school is your lender. The loan is made with government funds with a share contributed by the school.
- Depending on when you apply, and your level of need, you can borrow up to $1,500 for each year of undergraduate or graduate study.
- The total amount you can borrow as an undergraduate student is $20,000.
- The total amount you can borrow as a graduate/professional student is $40,000, including any Perkins Loans you borrowed as an undergraduate.
- There are no loan fees associated with this loan.
- If you're attending school at least half time, you have nine months after you graduate, leave school, or drop below half time status before you must begin repayment.
- Perkins Loan has a forgiveness/cancellation provision available to students under certain circumstances. Information is available in The Guide to Federal Student Aid.
Master Promissory Note (MPN) Information
New borrowers will receive notification by e-mail to complete a Master Promissory Note. THIS IS NOT THE SAME MASTER PROMISSORY NOTE COMPLETED FOR DIRECT LOANS. Borrowers who have previously received Perkins Loans will be directed to view the acceptance and disclosure pages. Students should update any address, phone, or reference information as necessary.
IMPORTANT: Please do not change the "offered amount" published on the acceptance page. If changes are necessary please notify the UW-Superior Financial Aid Office prior to completing the MPN.
Exit Interview Information
All Perkins Loan recipients leaving UW-Superior must complete an exit interview. THIS IS NOT THE SAME AS EXIT COUNSELING FOR DIRECT LOANS.