The Federal Perkins Loan Program is a need-based loan for students who demonstrate exceptional financial need. Eligible students are automatically awarded loans from this program based upon the results from the Free Application for Federal Student Aid (FAFSA).

Awards from this federal loan program range from $500 to $2000 per year at SRU. Repayment of this loan begins nine months after the student ceases to be enrolled on at least a half time basis. During the repayment period, the student will be charged five percent interest on the unpaid balance of the loan principal. Certain loan cancellation and deferment benefits for certain borrowers are available. Specific information about these provisions can be found on the federal student aid webpage (click on the "Repaying Your Loans" link).

Students who are awarded a Federal Perkins Loan will be required to sign a Perkins Loan Master Promissory Note. New student borrowers should sign their Perkins Loan MPN approximately two weeks after being notified of their Perkins Loan eligibility on their financial aid award letter. Guidance for completing the Perkins Loan MPN is available through SRU's Perkins Loan Office webpage.

QUESTIONS about the Perkins Loan Master Promissory Note should be directed to SRU's Perkins Loan Office at 724-738-2064 or the Office of Student Accounts at 724-738-2088.