The Perkins Loan is awarded to undergraduate and graduate students with exceptional financial need. This is a campus-based loan program, with the university acting as the lender using a limited pool of funds provided by the federal government. It is like a Federal Stafford subsidized loan, with no interest being accrued. Interest begins when the loan actually enters payment. There are no origination or guarantee fees, and the interest rate is 5%. There is a 10-year repayment period. The amount of Perkins Loan you receive is determined by the financial aid office. The maximum Perkins Loan awarded by the University of Houston is $4,000 and will vary by year in school, with the minimum being $1,500. There are cumulative limits of $20,000 for undergraduate loans and $40,000 for undergraduate and graduate loans combined.
| Form | Explanation |
|---|---|
| Ensign Promissory Note | This must be completed to receive Perkins funds. The signature is good for 10 years. |
| Entrance Interview | This must be completed to receive Perkins funds. |
| Exit Interview | This is completed when the student leaves or graduates from the university or is no longer at least half time status. This does not include summer sessions. Students do not have to enroll in summer sessions as long as they resumes classes the following fall. |
