FEDERAL PERKINS LOAN
The Perkins Loan is a low interest (five percent) federally funded loan program for students who demonstrate exceptional financial need. The Department of Education determines the amount of Perkins loan funding that Buffalo State College will receive each academic year. Students will be considered for this loan based on eligibility and the funds available at the time that a valid FAFSA is received. If a student is eligible to receive a Perkins loan, it will be included in their award package; no additional application is necessary. The following requirements are necessary to be considered for a Perkins loan:
- A valid FAFSA must be on file for the current academic year
- Financial need is established using the student’s Cost of Attendance minus their EFC and other financial aid
- Students must meet satisfactory academic progressrequirements
- Completion of an electronic Perkins Promissory Note and Entrance Counseling if awarded a loan