Federal Perkins Loans (Historical)
A discontinued federal campus-based loan program for students with exceptional financial need — no longer offered.
Federal Perkins Loans were a campus-based loan program administered by colleges and universities for undergraduate and graduate students with significant financial need. The program has been discontinued and is no longer offered to new borrowers. Students who received Perkins Loans in the past may still have outstanding balances and repayment obligations. Because these loans are no longer active, their terms and conditions are not subject to change. For current information about federal student loans available today, visit studentaid.gov.
Who it's for
Historically, undergraduate and graduate students with exceptional financial need, through participating schools. Authority to make new Perkins Loans ended on September 30, 2017, and the final loans were disbursed by June 30, 2018 — so no new Perkins Loans are available today. This page is provided for borrowers who still have one to repay.
How the interest rate is set
Perkins Loans were issued with a fixed interest rate set by the program. Because no new Perkins Loans can be made, only existing borrowers are affected; check studentaid.gov or your loan servicer for your specific terms.
How much you can borrow
Perkins Loans were campus-based: schools used a limited federal allocation to award them, so amounts were set by the school. The program no longer makes new loans.
Key terms at a glance
| Loan type | Federal (campus-based) — DISCONTINUED |
| New loans available | No (program ended Sept 30, 2017) |
| Final disbursement | By June 30, 2018 |
| For | Historically, students with exceptional financial need |
Pros and cons
Potential advantages
- Existing Perkins borrowers may still be eligible for certain Perkins Loan cancellation/forgiveness benefits (for example, for some public-service jobs) — check with your servicer.
- Generally a low fixed rate for those who hold one.
Things to watch
- No longer available — you cannot get a new Perkins Loan.
- Perkins Loans are not Direct Loans; some federal benefits (like certain income-driven plans or Public Service Loan Forgiveness) generally require consolidating a Perkins Loan into a Direct Consolidation Loan first.
Sources: Federal Student Aid — Federal Student Loans; CFPB — Student Loans. Federal loan details follow U.S. Federal Student Aid (studentaid.gov); always confirm current rates and limits there.
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Compare student loan & refinance options →Frequently asked questions
Can I still get a Perkins Loan?
No. The Federal Perkins Loan Program ended — schools could not make new Perkins Loans after September 30, 2017, and the final disbursements were made by June 30, 2018. Today you would look at Direct Subsidized/Unsubsidized Loans instead.
I still owe on a Perkins Loan — what should I know?
Contact your loan servicer or your school to understand your repayment, cancellation, and consolidation options. To access certain federal programs, you may need to consolidate it into a Direct Consolidation Loan. Verify the current rules at studentaid.gov.