How to Repay a Perkins Loan

A Perkins loan is a federal loan designed for disadvantaged students. When you get a Perkins loan, it is issued by the financial aid office at your school with government funds. Since the school is your lender, all of your payments to pay off your Perkins loan balance go to your school and not the federal government or a lending institution.

Instructions

1

Wait for your bill to arrive. When you leave school or fall below half-time enrollment, you get your first Perkins loan bill after a 9-month grace period.

2

Detach the payment slip from the bill. It will list the minimum payment amount that is due, along with the due date.

3

Put your payment slip into an envelope with your payment. When you write out the check you should include your account number on it.

4

Send the payment to the address on the payment slip. The address will be to your school's business office.