A federally funded need based loan program administered by the University. Perkins loans are for educational expenses and have a 5 percent annual interest rate (which begins accruing nine months after the student ceases to be a student at least half time).
Repayment starts nine months after leaving Stritch, and the
loan must be paid in 10 years unless extended by certain types of
deferments. The Perkins loan comes from a revolving fund. Prompt
repayment allows Stritch to provide funds for other students needing financial
Any federal student loans borrowed are submitted to the National Student Loan Data System (NSLDS) for required reporting purposes. This information is accessible by guaranty
agencies, lenders, and institutions determined to be authorized users of
the data system. The National Student Loan Data System
(NSLDS) provides information on your federal loan amounts, outstanding
balances, loan statuses and disbursements. You can access your loan information by going to NSLDS online.
Cardinal Stritch University adheres to the National Association of Student
Financial Aid Administrators code of conduct.
More information on the Federal Perkins Loan Program
can be found at http://www2.ed.gov/programs/fpl/index.html.