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| Perkins Loan Need Based: Yes Per Year Maximum: $4,000 Cumulative Maximum: $20,000 Interest Rate: 5% (during repayment only) Repayment: There are no principal or interest payments required while attending school. Repayment begins 9 months after leaving school. Payment on the Perkins Loan is easily deferred during at least half-time enrollment in graduate school, and for participation in programs such as the Peace Corps. Various loan forgiveness options may be available for working in certain non-profit areas, police work, and teaching in federally designated teacher shortage areas. Who is Eligible: The Perkins Loan is a need-based loan, and the Department of Education requires that Concordia award it to students with the greatest need. How to Apply: In order to be considered for the Perkins Loan, students must complete the FAFSA and Concordia Supplement. You will automatically be considered for this program once those forms are received, and your eligibility for the Perkins Loan will be presented in your Award Letter. First-Time Borrower: You will receive an e-mail to your Concordia e-mail account in June inviting you to visit www.signmyloan.com to complete the required tasks. Incoming students and new borrowers will be asked to complete an Entrance Counseling session and electronically sign a Master Promissory Note (MPN). Your FAFSA PIN is required to sign electronically. Failure to complete these tasks will result in cancellation of the loan. Repeat Borrower: You will receive an e-mail to your Concordia e-mail account in June inviting you to visit www.signmyloan.com to complete the required tasks. A borrower who previously signed an MPN will be invited to view their disclosure statements. |
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| Student Portal at MyFinancialAid.cord.edu |
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| School Code: 002346 | ||
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