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.
Eligible freshmen receive up to $2,000. Sophomores receive up to $1,000.
Fixed interest rate of 5%. No interest accrues until you enter 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.
Bethel gives priority to those who apply for financial aid before April 15.
Students who are awarded eligibility are encouraged to complete the steps necessary to secure funding by July 1 (entrance counseling and master promissory notes). Students who fail to complete these steps may have their Perkins eligibility reduced or cancelled.