Federal Perkins loan borrowers have separate loan counseling requirements. This loan is available to graduate and undergraduate students who either need additional aid beyond the amount offered or have no financial need. Students must be enrolled in a degree program. Eligibility is not based on financial need, nor is it limited by family income levels. Total amount of aid received cannot exceed the cost of education.
Interest rate is variable and the borrower is responsible for payment of interest while in school.
Contact the Financial Aid Office for more information and for application forms. These loans are available through private lenders and offer assistance to students and parents who cannot demonstrate financial need or need more assistance than is available in the Federal Stafford Loan. Federal PLUS can be used to replace the contribution which is expected from students and families. Applications and brochures are available from the MSU Moorhead Financial Aid Office and from lenders. Interest rate is variable and is set annually.