Annual grants provided by the College for students with demonstrated need. To be renewed, students must maintain satisfactory academic progress and continue to demonstrate need. These grants do not have to be repaid. Repayable at 5 percent interest over a ten-year period, beginning nine months after leaving college. Meredith College has a limited amount of Perkins loans, and they are provided only to the neediest of students.
Students apply through commercial lenders.
If the student demonstrates need and the loan is subsidized, the Federal Government pays interest while the student is enrolled. If not, the interest accrues while the student is in school. Repayment of principle and interest begins six months following graduation or less than half-time enrollment or termination of studies. These are based solely on academic and personal achievement. Awards are renewable each year provided students maintain the required academic average.