Perkins Loans

Do not have to submit parental income information on FAFSA
Interest is subsidized (paid) by the federal government during in-school, grace, and approved deferment periods
Maximum $6000/year; aggregate limit of $40,000, including the amount borrowed as an undergraduate student (actual loans will be dependent upon available funds)
Need-based eligibility determined by the results of FAFSA; priority given to students with exceptional financial need
Student borrows through the school
Grace period of 9 months after enrollment ceases
Deferment and Forbearance options available
Standard 10-year repayment schedule; minimum $40/month payment