Students are required to have an updated address on file with the Department at all times. Disbursement of Funds Financial aid awards are first applied to unpaid tuition and fees and a check for the balance of remaining financial aid is mailed to the student. Generally, your Perkins loan disbursement will be included in that check. Interest Rate Interest accrues at the rate of five percent per year. Interest does not accrue while you are enrolled on at least a half-time basis.
Interest begins to accrue at the end of the nine month grace period.
Repayment Repayment begins on the first day following the ninth month of your grace period. Your grace period begins after you graduate or cease to be enrolled on at least a half-time basis. Monthly payments, payable to The University of Georgia, are due the first of each month. Late fees are assessed on past due payments. Your loan balance and repayment history are reported to National Credit Bureaus each month in accordance with federal regulations.