Federal Perkins Loan
The Perkins Loan is a need-based loan awarded to a limited number of eligible freshman and sophomores. Due to limited Perkins funding, we give priority to students who meet the April 15 financial aid application deadline.
Amount
Eligible freshmen receive up to $2,000. Sophomores receive up to $1,000.
Interest Rate
Fixed interest rate of 5%. No interest accrues until you enter repayment.
Loan Fees
None.
Repayment
Repayment begins 9 months after you graduate, withdraw, or drop below half time. When you begin repayment, you will be required to make minimum payments of $40 per month.
Deadline
Bethel gives priority to those who apply for financial aid before April 15.
Students who are awarded eligibility but who do not complete the process by July 1 may have their Perkins eligibility reduced or cancelled.
How to Apply
- Follow the steps to apply for financial aid.
- Bethel will send you a financial aid award notifying you of loan eligibility.
- If you're eligible, make sure you process your loan at least 1 month before you start classes.
