Federal Perkins Loan
The Federal Perkins Loan (formerly called the National Defense and National Direct Student Loan) is a federally funded low-interest loan. Ohio University is the lender using funds from the federal government and/or payments collected from previous borrowers. The interest rate on the Perkins Loan is five percent, and repayment starts nine months after you leave school or graduate.
In order to apply for the Perkins Loan, you must complete the Free Application for Federal Student Aid (FAFSA) for the appropriate school year. Ohio University must receive the results of your FAFSA by our first-priority deadline of March 15. You will need to submit your FAFSA in January or early February to allow time for processing to meet this deadline. In addition, you must have financial need in order to qualify for a Perkins Loan. In general, Ohio University makes Perkins Loans that average $1,200 per school year to be disbursed equally over the semesters i.e., $400 per semester for three semesters, respectively.
If you are awarded a Perkins Loan you have the option to accept, reduce or decline on your student center site. If you accept the loan there will be a link to complete the Perkins Loan Promissory Note.
When you graduate (or leave school for other reasons), you must complete an online Perkins Loan Exit Interview. This Exit Interview will give you more information about your repayment options, deferments, cancellation provisions, etc. You receive an email with a web link to complete a Perkins Loan Exit Interview the semester you apply for graduation. You must complete the online exit interview in order to meet your Exit Interview requirement. Failure to complete your Exit Interview will result in a "HOLD" being placed on certain official documents such as grades, transcripts, and/or diplomas. If you are leaving school for other reasons, such as transferring to a different school, you should contact the Bursar's Office, 010 Chubb Hall, Ohio University, Athens, OH 45701, telephone (740) 593-9930 to make arrangements to complete your Perkins Loan Exit Interview.