Federal Perkins Loan

The Federal Perkins Loan is a low-interest (5%) federal student loan. It is a campus-based loan, and the University of Louisville is the lender. Awards from this loan are made to students based on financial need. Receiving this award may depend on when you file your FAFSA, your level of financial need, and availability of funding.

Step By Step Perkins Loan Instructions

You must file a FAFSA to have your Perkins loan eligibility evaluated. If offered a Perkins loan:

  1. You may initially accept, reduce, or decline the Perkins Loan on ULink using the option Accept/Decline Financial Aid under the Financial Aid section on the Student Services tab. You may review your student account activity on ULink using the option Account under the Tuition, Fees, Payment Options section on the Student Services tab. For assistance with ULink, review our ULink Financial Aid tutorials.
  2. If you are accepting the Perkins Loan, you must be enrolled at least half-time in a UofL eligible degree program or have approved non-degree status for the funds to disburse to your account. Half-time for undergraduates is 6 hours.
  3. If you are a first-time Perkins Loan borrower at UofL, you must complete both an Entrance Counseling session and a Perkins Master Promissory Note. These can be completed on the Bursar's Office website.
  • Use the Federal Perkins Loan Repayment Calculator to see what your repayment will look like.
  • The Perkins Loan interest rate is fixed at 5%. If you are enrolled at least half-time, you have nine months after you graduate, leave school, or drop below half-time status before you must begin repayment.



The Extension Act (passed by Congress & President Obama), enacted on December 18, 2015, extends the Perkins Loan Program to allow schools to continue making Perkins Loan award through September 30, 2017.  No new awards will be made after September 30th.

Important Federal Perkins Loan disclosure information will be provided to you by the University of Louisville Bursar’s Office. This information will include facts about the availability of Perkins Loans, repayment and forgiveness benefits, consolidation options, and a comparison of interest rates for continuing and new undergraduate borrowers.