Chase Tip: Another federal student loan is the Perkins Loan. The maximum amount that may be awarded for a Perkins Loan is $4,000 per year as an undergraduate and $6,000 per year for graduate students. In addition, the cumulative maximum for this federal student loan for an undergraduate student is $20,000 and for a graduate student it is $40,000 (including any Perkins loan funds received as an undergraduate).

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