Federal Perkins Loan
Due to limited funding, not all Crown students will have the opportunity to borrow a Perkins Loan. Also Perkins Loan funding will only be awarded to students with exceptional need additional funding on top of that provided through the Stafford Loan programs. All students who apply for Federal financial aid are considered for Perkins Loan funding and if you are awarded a Perkins Loan it will be listed on your Financial Aid Award letter. Crown College is the lender for the loan, which is funded by the federal government.
- Loan entrance and exit counseling is required.
- Interest charges begin when student enters repayment, nine months after graduating or dropping below half-time status (six credits).
- The minimum monthly payment is $40/month; but it may be more if the amount borrowed is sufficient to require larger payments. The maximum length of time for repayment is 10 years.