A Federal Perkins Loan is a low-interest (5%) loan for undergraduate students with exceptional financial need as determined by the results of the Free Application for Federal Student Aid (FAFSA). It is awarded to a limited number of students each semester. For this loan, WSU is your lender; you are responsible for repaying the amount of the loan plus interest to WSU. The government, as well as WSU, funds the loan.
$5,500 for each year of undergraduate study, up to $27,500.
$8,000 for each year of graduate or professional study, up to $60,000, (including any Perkins loans borrowed as an undergraduate).
The award amount you receive however, will depend on when you apply, your level of need, and the funding level of WSU specifically. Typical award amounts at WSU are $4,000 to $5,000 for the academic year.
1. File a FAFSA online at www.fafsa.gov by WSU's December 1st priority date. Once your file is complete, the Office of Financial Aid will send you a financial aid award notice.
2. To accept your Perkins loan, login to myWSU and select the Financial Aid Tab, then Financial Aid Awards link. Keep in mind that you should borrow only what you need.
3. The Office of Financial Aid will notify the Perkins Department in the Office of Financial Operations and Business Technology of your loan eligibility.
4. If this is your first Perkins Loan at Wichita State University, you must complete the Perkins Loan Online Entrance Counseling and a Master Promissory Note (MPN). If you completed a MPN for an earlier loan at WSU, you may not need to complete another one.
For more information about Perkins loans, visit the Perkins Loan Department website.
If you have any questions about the terms of your Federal Perkins Loan, repayment obligations, deferment, forbearance, or cancellation, check with the Perkins Department in the Office of Financial Operations and Business Technology at WSU. Only the WSU Office of Financial Operations and Business Technology may grant deferment, forbearance, or cancellation, or make other decisions concerning your loan.