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 $1,800 per school year to be disbursed in equal quarterly payments, i.e., $600
per quarter for three quarters, respectively.
If you are awarded and do not decline your Perkins Loan, you will need to complete a Federal Perkins Loan Master Promissory Note as well as a Personal and Confidential Information Form. These forms can be printed from our web site and must be sent to our office for processing.
When you graduate (or leave school for other reasons), you must complete a 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 quarter you apply for graduation. You must complete the online exit interview in order to meet your Exit Interview requirement. Failure to do so will result in a "HOLD" being placed on your grades, diploma, etc. 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.
