Perkins Loans
General Information
The Perkins Loan is awarded to undergraduate and graduate students with exceptional financial need. This is a campus-based loan program with the school acting as the lender using a limited pool of funds provided by the federal government. The interest rate is 5% annually and there are no origination or guarantee fees. For more information on how to qualify and apply for a Perkins Loan, contact the Financial Aid Office at (972)883-2941.
After a student has been awarded a Perkins loan by the Financial Aid Office, the files are kept at the Bursar's Office for account maintenance. Any student with a Perkins loan must keep the Bursar's Office informed of the following:
- Any changes in address.
- Changes in full-time status (at least 12 hours for undergraduate level and 9 hours for graduate level) or half-time status (at least 6 hours for undergraduate level and 5 hours for graduate level).
- The anticipated date of leaving the University or graduation. Please email us at: bursarsoffice@utdallas.edu so we may update your records accordingly.
It is a Federal regulation that all Perkins Loan awardees must complete an Exit Interview which details the repayment arrangements for the loan. This must be completed in the Bursar's Office before leaving school or graduating. Students not completing this interview will have a transcript hold placed on their student account and will not receive their diploma.
The Perkins Loan allows a nine month grace period from the date that a student leaves school (or graduates) before the first payment is due. Payments may be deferred if the student decides to return to school on at least a half-time basis. Deferments are available for economic hardship or unemployment situations. Cancellations of the debt are available for certain career paths. More information regarding deferments and cancellations is available at www.ed.gov.
Who to Call
For more information on the repayment of Perkins Loans or questions about deferment options, please contact:
Bursar's Office
Main Line: (972)883-2612
Last Updated: July 24, 2009
