| |
|
|
|
Federal Perkins Loans
- You, the student, are the borrower.
- Need-based loan.
- A credit evaluation is not required.
- Repayment begins nine months after you are less than half-time status.
- Federal Perkins loan funds are limited and will be awarded on a
first-come first-serve basis to students who meet all other eligibility
requirements. For you to be considered for the federal Perkins loan
through Dakota Wesleyan University, you must meet DWU’s priority
date deadline, DWU’s criteria, and Department of Education’s
regulations.
**If you were not awarded the federal Perkins loan on your award letter,
you did not meet the criteria for the federal Perkins loan.
Qualifying for the federal Perkins loan
**If you were not awarded the federal Perkins loan on your award letter,
you did not meet the criteria for the federal Perkins loan.
- Step 1 - Complete the FAFSA (Free Application for Federal Aid).
- Step 2 - Sign and return your financial aid award letter. You may
indicate any decreases in the amount you want to borrow on your award
letter.
- Step 3 - Complete the Promissory
Note and Rights
and Responsibilities forms.
- Step 4- Complete Perkins loan entrance counseling.
If you fail to return all the paperwork and complete the loan entrance
counseling, your federal Perkins loan may be removed from your award
letter and awarded to another student.
 Loan
limits
- The amount you can borrow is determined by DWU.
- A typical Perkins Loan amount is between $500 and $1500 per year.
Interest Rate and Fees
- The interest rate is fixed at 5 percent.
- No guarantee or origination fee.
Loan
Paperwork
Please print and complete these forms if you have accepted
the Federal Perkins Loans. Then mail or fax them to the DWU Financial
Aid Office.
|
|
