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Student
Loan Billing and Payment Office
Federal Perkins Loan Program
Annual Percentage Rate:
5%
Initial Grace Period: 9
months
Post Deferment Grace Period: 6 months
Repayment Period: 120 months
Deferment types (please
refer to your promissory note for detailed information):
a) Enrolled as a student at least half time
b) Enrolled as a student in a Graduate Fellowship program
c) Unemployment (maximum deferment is 3 years)
d) Economic Hardship (maximum deferment is 3 years)
e) Rehabilitation training for disabled individuals
f) Military* (loans disbursed after June
30, 2001, maximum deferment is 3 years)
* Applies to period when borrower is
serving on active duty during a war or military operation,
or national emergency, or performing qualifying National
Guard duty during a war or other operation or national emergency.
Additional deferment types available
only for loans disbursed before July 1, 1993:
a) A member of the U.S. Armed Forces (maximum
deferment is 3 years)
b) An officer in the Commissioned Corps
of the U.S. Public Health Service
c) Full time, active duty member of the
National Oceanic and Atmospheric Administration Corps
d) Peace Corp or ACTION volunteer
e) Temporarily totally disabled or caring
for a disabled spouse or dependent
f) Working mother (maximum deferment is
12 months)
g) Parental leave (maximum deferment is
6 months)
h) Medical Internship/Residency (maximum
deferment is 2 years)
Cancellation types: click
here for specific information.
If you do not qualify for a deferment
or cancellation, you can apply for forbearance.
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