HOW TO COMPLETE THE FEDERAL PERKINS LOAN MASTER PROMISSORY
NOTE
Federal Perkins Loans offer several major advantages They
have a low fixed interest rate of 5%; borrowers are not charged
any application or processing fees; no interest accrues on the
loan while the student is in school; and repayment is not due
until nine months after the student graduates, withdraws from
school or drops to less than half-time status. These loans are
awarded to students with exceptional financial need, as determined
by federal methodology.
Students are notified of eligibility for Federal Perkins Loans
in their financial aid award letters. In order to accept the
loan, students must execute a promissory note and complete student
loan entrance counseling. During the
summer prior to the fall semester, the Office of Student Financial
Aid will mail the Federal Perkins Loan Master Promissory
Note and Wake Forest University Pre-Loan Counseling Data
Sheet to all students who have been awarded Perkins Loans
for the first time. To
accept the loan, complete these two forms and return them in
the enclosed envelope. If you wish to decline the loan, please
notify the Office of Student Financial Aid as soon as possible
so these funds can be offered to other students.
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