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Federal Perkins Loans

A Federal Perkins Loan is a low-interest (5 %) loan for undergraduate and graduate students with financial need. Funds come directly from the U.S. government but Cal State East Bay is the lender and borrowers repay loans directly to the University. Although the federal government allocates some additional Perkins Loan funds to schools each year, most of the Perkins funds are from previous Perkins Loan recipients who are now repaying their loans.

Federal Perkins Loan borrowers must meet specific need eligibility criteria. Your Expected Family Contribution (EFC) must fall within a certain range before you will be offered this loan.

Perkins Loan Limits

A Perkins Loan has an annual loan limit and a lifetime aggregate or total limit as shown below. Perkins Loan repayment begins 9 months after you drop below half-time enrollment for any reason. You may be allowed up to 10 years to repay your Perkins Loan.

Perkins Loan Limits based on a three-quarter year:
UndergraduateGraduateTeacher Credential
Annual Loan Limit $1,800 $2,400 $3,000
Lifetime Aggregate $20,000 $40,000
(5% Interest Rate)

Perkins Loan Debt Cancellation Programs for Teachers

Borrowers who teach full-time in designated elementary or secondary schools serving low-income students, full-time teachers in certain subject areas, and full-time teachers of handicapped children may have up to 100% of Perkins Loan debt canceled. Certain other public service professions also qualify for Perkins Loan cancellation. Contact the Financial Aid Accounting Office, (510) 885-3757 if you received a Perkins Loan, and believe you qualify for one of these loan cancellation programs.

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