You apply for a Federal Perkins Loan when you fill out the need analysis (FAFSA). BHSU is the lender for this loan and handles the paperwork. Funding is limited. Applications must be submitted by March 1 for priority consideration.

• Undergraduate:
  • Up to $4,000 per year
  • Up to $20,000 cumulative total for the bachelor's degree.
• Graduate:
  • Up to $6,000 per year.
  • Up to $40,000 cumulative total for the master's degree, including undergraduate loans.

• 5% interest. Monthly repayment starts nine months after graduation, withdrawal or dropping below half-time enrollment.
• $40 minimum monthly payment; 10-year maximum repayment period.

BHSU will send you an award letter indicating your maximum Direct William D. Ford Loan eligibility and will provide you with instructions on how to apply. Please review Award Handbook , If questions, contact the Financial Aid Office.

• Maximum Annual Eligibility (beginning July 1, 2007):
  • Freshman -- $3,500
  • Sophomore -- $4,500
  • Junior/Senior -- $5,500
  • Grad year  -- $8,500
• Cumulative Totals:
  • $23,000 undergraduates
  • $65,500 graduate and professionals.
  • Additional unsubsidized available for Independent Students

• Fees with given up-front rebate.   To retain the up-front interest rebate, a borrower must make their first twelve monthly payments on time. If all of the twelve monthly payments are not made on time, the rebate amount is added to the borrower's principal loan balance, which will, increase the loan amount that must be repaid.
• Interest during the repayment period.

• Interest rate is a fixed of 5.6% beginning July 1, 2009. 
• Interest is paid on the Subsidized Direct Loan by the federal government while the student is in school and during any grace period or deferment periods.
• Repayment starts six months after graduation, withdrawal or dropping below half-time enrollment.
• $50 minimum monthly; 10-year maximum repayment period.
• Repayment with Direct Loans, www.dl.ed.gov .

Dependent undergraduate students who do not qualify in whole or in part for a Subsidized Direct Loan.

BHSU will send you an award letter indicating your maximum unsubsidized Direct Loan eligibility and will provide you with instructions on how to apply -- refer to the Award Handbook.  The application can be found at the Direct Loan MPN link at the top of this Student Loan tab.  If questions, contact the Financial Aid Office.

The combination of subsidized and unsubsidized Direct Loans cannot exceed Direct Loan limits.  Refer to Award Handbook.

Fees with up-front rebate.  To retain the up-front interest rebate, a borrower must make their first twelve monthly payments on time. If all of the twelve monthly payments are not made on time, the rebate amount is added to the borrower's principal loan balance, which will, increase the loan amount that must be repaid.

 Interest begins to accrue from the date the funds are disbursed.

• Interest is a fixed 6.8% rate.
• Interest begins accruing from the date the funds are disbursed. The borrower may make the interest payment or have them capitalized. Payments may be deferred up to six months after graduation, withdrawal, or dropping below half-time enrollment. $50 minimum monthly payment; 10-year maximum repayment period.
• Repayment with Direct Loans, www.dl.ed.gov .

Independent undergraduate or graduate students who do not qualify in whole or in part for a Direct Subsidized Loan.

BHSU will send you an award letter indicating your maximum unsubsidized Direct Loan eligibility and will provide you with instructions on how to apply -- refer to Award Handbook.  If questions, contact the Financial Aid Office.

• The combination of subsidized and unsubsidized Federal Stafford Loans cannot exceed :
  • Freshman -- $9,500
  • Sophomore -- $10,500
  • Junior/Senior -- $12,500
  • Grad year  -- $20,500
• Cumulative Totals:
  • $57,500 undergraduates
  • $138,500 graduate and professionals.

Fees with up-front rebate. To retain the up-front interest rebate, a borrower must make their first twelve monthly payments on time. If all of the twelve monthly payments are not made on time, the rebate amount is added to the borrower's principal loan balance, which will, increase the loan amount that must be repaid.

Interest begins to accrue from the date the funds are disbursed on Unsubsidized Direct Loans.

• Interest is a fixed 6.8% rate.
• Interest begins accruing from the date the funds are disbursed. The borrower may make the interest payment or have them capitalized. Payments may be deferred up to six months after graduation, withdrawal, or dropping below half-time enrollment. $50 minimum monthly payment; 10-year maximum repayment period.
• Repayment with Direct Loans, www.dl.ed.gov .

Natural or adoptive parents of dependent students who meet federal government eligibility requirements. A credit analysis will be required.

• Connect to the link below for the Direct Parent PLUS Loan Confirmation Form; Master Promissory Note (MPN) is filled out after completion of confirmation form.
             
  • Direct Parent PLUS Loan Confirmation Form
  • Or contact the Financial Aid Office for a paper certification.

Fees with up-front rebate. To retain the up-front interest rebate, a borrower must make their first twelve monthly payments on time. If all of the twelve monthly payments are not made on time, the rebate amount is added to the borrower's principal loan balance, which will, increase the loan amount that must be repaid.

Interest begins to accrue from the date the funds are disbursed.

• Interest rate accures on disbursed amounts; fixed interest rate of 7.9% beginning July 1, 2006.  
• Repayment begins 30-60 days after loan is fully disbursed.  $50 minimum monthly payment; 10-year maximum repayment period.  Repayment with Direct Loans, www.dl.ed.gov .