Counseling from this web site. Student loans can be a useful tool perkins loan entrance counseling pdf funding your education, but use them wisely.
Borrow only what you need. Enter your request in text box and submit. Please be specific and include loan type, amount, and semester. If the request is unclear, you will be asked to resubmit in order to clarify.
The PAWS submission form applies to the student’s subsidized and unsubsidized loans only and cannot be used to revise parent PLUS loans or to request loan changes due to a PLUS loan denial or change in grade class. Please note: Revisions will be made based upon academic year budgets and other aid received. Annual and aggregate loan limits also apply. NOTE: This program has expired, effective Sept.
The Federal Perkins Loan is a low-interest loan to help students pay for their education after high school. It is available for both undergraduate and graduate students. The Perkins Loan Program is a very popular source of student aid due to the very low interest rate. Many students participate in the Perkins Loan Program, but due to its limited funds, the awards go to those students who apply early and demonstrate need.
Awards are subject to the availability of federal funds. The interest rate on all Perkins Loans is 5 percent. If you accept a Federal Perkins Loan, you will need to complete a Promissory Note, Confidential Information Sheet, and a Rights and Responsibilities Sheet. These forms will be sent after the Award Letter has been returned to the Office of Financial Aid and Scholarships. Fall and spring promissory notes are mailed starting mid-July. Summer promissory notes are mailed starting mid-May.
The loan goes into repayment once the student is no longer enrolled or enrolled less than six hours for a period of nine months. Once in repayment, loan payments are made to the Student Accounts Office at Eastern Illinois University. These loans are low-interest loans made to you to help you pay for your education after high school. The subsidized loan is based on need, and the government pays the interest while the student is enrolled at least half-time. The unsubsidized loan is not need based, so it is available to students regardless of financial need.
While the student is still in school the interest is capitalized, or added to the principal balance, if the recipient chooses not to make payments upon the interest. However, students may request to make interest payments while still in school. Subsidized and unsubsidized Direct Loans are low-interest loans that do not require a cosigner. The money for these loan programs comes from the government. Most students will begin repayment six months after leaving EIU or dropping below half-time. The federal government determines the interest rate for new loans each school year. The interest rate will not exceed 8.