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A Federal Perkins Loan, also referred to as a Perkins Loan, was a need-based student loan offered by U.S. Department of Education from 1958 until 2017. [1] Created as part of the Federal Direct Student Loan Program , the Perkins Loan served to assist American college students fund their post-secondary education .
Federal Perkins Loan (Perkins Loan) Program: This is a school-based loan program for eligible students with exceptional financial need. Students may qualify for a Perkins Loan of up to $8,000 each year depending on financial need, the amount of other aid received, and the availability of funds at the school.
Federal Family Education Loans (FFEL) Federal Perkins Loans. Qualifying payments. To be eligible for PSLF, you need to make at least 120 qualifying payments toward your student loans. Typically ...
In recent legislation, Perkins loans were dropped from the list of loans that qualify for forgiveness, as were privately held Federal Family Education Loans. An Extended Pause on Student Loan Payments
Any loan made under the Direct Loan Program can qualify for PSLF. In particular, Subsidized and Unsubsidized Stafford Loans, PLUS Loans, and Federal Direct Consolidation Loans qualify for PSLF. Loans in the FFEL program or Federal Perkins Loans can be consolidated into a Direct Consolidation Loan to become eligible for the program. [5] Private ...
Perkins Loan Cancellation: Teachers, firefighters, law enforcement officers and others are eligible for Perkins Loan cancellation or discharge. Cancellation can happen over the course of five ...
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