The Federal Perkins Loan is a campus-administered federal program that provides fixed-interest loans to students with exceptional need. Interest does not accrue while the student is enrolled at least half-time or during grace or deferment periods.
Students should refer to their financial aid award to determine the amount of their annual Perkins Loan. Unless requested otherwise through the Office of Financial Aid, disbursement of any annual amount is generally split across semesters and applied to the student's tuition account.
$5,500 per year
Cumulative limits of $11,000 for Undergraduates in years one and two, $27,500 for Undergraduates in years three and four
|Graduate/ Professional Students
$8,000 per year
Cumulative limits of $60,000 for graduate/professional students (combined with undergraduate borrowing).
Rates & Fees
The interest rate is a fixed 5% rate. There are no origination fees associated with the Perkins Loan.
9 months - No payments are required during the grace period. There is no penalty if a borrower chooses to make payments during the grace period.
The Federal Perkins Loan is repaid to the Brown University Loan Office in equal monthly installments over a maximum 10 year repayment term.
Learn more at Repay Your Loans.