Federal Perkins Loan

A Federal Perkins Loan is a low-interest (5%) loan for undergraduate or graduate students. Funding is limited. These loans are made through the UAM Financial Aid Office. This is a loan and it must be paid back.

Return of Title IV - Students who receive Title IV aid and do not complete at least 60% of the semester for which they are enrolled may be required to return a portion of the Federal funds received. Title IV aid includes, but is not limited to, Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (SEOG), Academic Competitiveness Grants (ACG), National Science & Mathematics Access to Retain Talent (SMART) Grants, Perkins Loans, and Stafford Loans. In most cases, the withdrawal date for students who officially withdraw will be the actual date of withdrawal as determined by the Registrar’s Office. Students who cease attending without officially withdrawing are considered “unofficial withdrawals.” The midpoint of the semester (or in some cases, the last date of attendance) will be used in determining the amount of aid to be returned for unofficial withdrawals.

Withdrawing from the University, either officially or unofficially, may require that you return a substantial amount of the Title IV funds that you received. If you should have to withdraw at any point, contact the Financial Aid Office.

PLEASE NOTE:

Receipt of additional financial assistance such as scholarships, grants-in-aid, or vocational rehabilitation grants may change eligibility for awards that have already been processed. Federal Stafford Loans, Federal Supplemental Educational Opportunity Grants (SEOG), Academic Competitiveness Grants (ACG), National Science & Mathematics Access to Retain Talent (SMART) Grants, and/or Federal Perkins Loans may be decreased or canceled if the student receives additional assistance. IT IS YOUR RESPONSIBILITY TO KEEP THE FINANCIAL AID OFFICE INFORMED OF ALL ASSISTANCE YOU WILL BE RECEIVING.