Federal Perkins Loan

Type of aid:Loan - must be repaid
Award amounts:Up to $3,000 if funds are available.
Application process:Must complete paperwork for this loan with the IWU Financial Aid office.
Eligibility requirements:Must show substantial financial need. Must complete the Master Promissory Note (MPN) and Entrance Interview as directed by information associated with your financial award letter.
Repayment:Begins nine months after last date of half-time enrollment. Interest is fixed at 5.0% and no initial fees are taken from the loan.
Renewal requirements:Eligibility is evaluated annually
EFC eligibility range:0 - 1,700
Enrollment requirements:Full-time enrollment is required for full award receipt
Grade-level eligibility:All degree-seeking students
Costs this aid can cover:Any educationally related expense

FAFSA Code: 001822

Free Application for Federal Student Aid

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