Federal Perkins Loans

Federal Perkins Loans were need-based student loans offered by the U.S. government to help students pay for college. They featured low interest rates and generous repayment options, with the government providing funding to educational institutions that lent the money. These loans were typically for students with exceptional financial need, and they often had fixed interest rates and flexible repayment terms. The program ended in 2017, but borrowers with existing Perkins Loans may still be responsible for repayment. Overall, they aimed to make higher education more accessible for students facing financial challenges.