Perkins Loans

Perkins Loans were federal student loans offered to help low-income undergraduate and graduate students pay for college. They were known for their low interest rates and flexible repayment options. Funded by the government and schools, these loans did not accrue interest while the student was in school or during certain deferment periods. However, they were discontinued in 2017, meaning no new Perkins Loans are being issued, although borrowers can still manage existing loans. Understanding Perkins Loans is essential for navigating student debt and available financial aid options.