BHSU Pay for College - Student Loans & Grants

Federal Perkins Loan

Who is eligible?

Undergraduate and graduate students based on financial need.

How do I apply?

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.  For more information review the Award Handbook.

Amount Available

  • 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.

Cost and Fees

Interest during the repayment period.

Repayment

  • 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.
    Also some cancellations possibilities with teaching full-time at low-income schools and some other professions described in law (visit with Perkins Loan Officer in Student Financial Services). 
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