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Federal Perkins Loan Master Promissory Note MPN; PDF Admissions Rpi  Form

Federal Perkins Loan Master Promissory Note MPN; PDF Admissions Rpi Form

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What is a Perkins Loan? A Perkins loan is a Federal loan offered to domestic students with high financial need. Students don’t apply for a Perkins Loan but Student Financial Services determines a student’s eligibility based on their Federal need as well as the loan availability. The Perkins loan is a revolving fund and as students repay their loans, it becomes available to future Mount Holyoke students. Students must meet federal criteria to be eligible for this loan. The interest rate on a Federal Perkins loan is fixed at 5% and students repay a Federal Perkins loan over a period of ten years. The Master Promissory Note and Entrance Counseling are required in order for a student to receive the Perkins loan and it be disbursed to their student account. A Federal Perkins loan is repaid to Mount Holyoke College through a servicer that’s contracted by Mount Holyoke, called ACS education services.

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