The chart below provides a partial list of the terms and conditions for the Federal Perkins Loan:
- General Information
- Interest Rates
- Repayment Information
Since these details vary by origination date and exact loan type, borrowers should refer to their promissory note for the actual terms and conditions for their loans.
| General Information |
|
|---|---|
| Loan types | Recommended (need-based) |
| Lender | Northwestern University |
| Servicer | Northwestern University Student Loan Office |
| Borrower | Undergraduate, graduate and professional students |
| Co-maker | No |
| Application process | If eligible, you will be notified via e-mail to complete application procedures on the Campus Partners web site. Some Perkins loan borrowers will be required to complete entrance interviews, loan applications, and e-sign their loans on the site. |
| Promissory Note | Perkins borrowers must sign the Master Promissory Note (MPN) promptly; your loan will be cancelled if your note is not signed within the defined period. Once signed, the Perkins MPN remains in effect for multiple years of borrowing. Be sure to keep a copy of the Perkins MPN for your records. |
| Fees | Application fee: None Insurance fee: None Origination fee: None |
| Loan disbursement | An equal portion of your annual loan amount is applied to your student account each term unless otherwise specified. |