The standard repayment period is up to ten years. Students must complete a separate Direct Stafford Loan master promissory note to borrow funds through this program. Based on Loyola College's federal funding level for this program. Perkins Loans are not available for the third or fourth years of undergraduate study. Interest does not accrue to the borrower, nor does repayment begin on Perkins Loans until nine months after termination of college enrollment on at least a half-time basis.
Interest accrued during in-school and the grace period is paid by the federal government .
The repayment period is up to ten years depending on the total amount borrowed. Perkins Loans do not carry an origination fee. Students must complete a separate Perkins Loan promissory note to borrow funds through this program. Evergreen Student Loans are not available for the third or fourth years of undergraduate study. Interest does not accrue to the borrower, nor does repayment begin on subsidized Evergreen Student Loans until six months after termination of college enrollment.