The Federal Perkins Loan is a low interest (5 percent) loan for undergraduate and graduate students with financial need. Northeastern State University is the lender for this loan, and the loan is made with government funds. Repayment for this loan begins nine months after you graduate, leave school or drop below half-time enrollment. Funding for this loan is limited and is awarded to early applicants. To apply for a Federal Perkins Loan, complete the Free Application for Federal Student Aid (FAFSA)
as soon after January 1 as possible. If a Perkins Loan is part of your award package, you will be contacted by Bursar Services regarding the paperwork you need to complete. The maximum Perkins Loan award is $4,000, and you must be enrolled in at least 6 credit hours.
Loans are funds that must be repaid with interest, usually after the student leaves college. Students must meet the eligibility requirements
to qualify for student loans. Student loans are a serious financial obligation we encourage you to be very careful with your student loan borrowing. It is very easy to incur a large student loan debt through these loan programs. For more detailed information regarding loans, please visit www.finaid.org
Perkins Promissory Notes
A Federal Perkins Loan Master Promissory Note gives information on the terms and conditions, repayment, forbearance, deferment or cancellation of the loan. Please contact the Perkins Loan Office at 918-444-2166 for more information.
Perkins Loan Deferment
There are two different types of deferment, economic hardship or the cancellation program.
The first is for an economic hardship and/or unemployment deferment. If you have other student loans (ie. Stafford, GSL, HEAL, etc.), that are in deferment or forbearance, your Perkins may qualify. Visit the EDSI website for the Request for An Unemployment or Economic Harship form (pdf)
The second one is for the deferment and cancellation program if you have a qualifying job. Some jobs that are eligible for this program are: law enforcement; teaching in a low income/non profit school, teaching math, science or special ed at any school; a social worker that works with children; nurse or medical technician among others. Visit the EDSI website for the Request for Deferment and Partial Cancellation of Loan form (pdf)
If you have any questions filling out the form, which form to choose or where to send it, please call 918-444-2166.
Once completed, you can mail it to the address at the bottom of the form or fax it to NSU at 918-458-2196.