Federal Perkins

The Federal Perkins Loan is a low-interest loan for students with exceptional financial need. Georgia College is the lender. The loan is made with government funds with a share contributed by GC, so your payments are through the university.

Eligibility for this loan program will be determined on a first-come, first-serve basis upon completion of the Free Application for Federal Student Aid (FAFSA).

The aggregate amount of funds eligible students may borrow is (1) $4,000 for undergraduate students and (2)  6,000 for graduate students

up to ten years to repay the loan. During the repayment period, the student will be charged 5% simple interest on the unpaid balance of the loan principle. The minimum monthly payment is $40.

Recipients must sign a promissory note in the Student Loan Collections Office prior to receiving funds.

Students, currently receiving or who have received a Federal Perkins Loan through Georgia College, who graduate, transfer, drop below half-time enrollment status, or otherwise leave school must arrange for an Exit Interview at the Student Loan Collections Office.