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.
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.
Certain other public service professions also qualify for Perkins Loan cancellation. Contact the Student Financial Services office at (510) 885-3757 ifyou received a Perkins Loan, and believe you qualify for one of these loan cancellation programs.