Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Perkins Loans and other Student Loan topics.
In order to qualify for a Federal Perkins Loan, a student must meet certain criteria. He or she must be planning to or currently enrolled in one of the more than 1,800 eligible academic institutions throughout the country.
Students wishing to obtain the Perkins Student Loan must also be U.S. citizens, permanent residents of this country or have eligible non-citizen status. Contact your school for the requirements for determining eligible non-citizen status.
Satisfactory academic progress toward a degree, monitored by the school, must be maintained in order to keep the Federal Perkins Loan. There must also be no outstanding or unresolved defaults on other student loans.
Assuming the student meets all of the above requirements, he or she must file a Free Application for Federal Student Aid (FAFSA). The participating school will then determine if you are eligible for this loan based on your level of financial need. The greater need you display the more you may receive.
|Jennifer Mathes, Ph.D.|