Student Accounts

Perkins Loans

Perkins Loan Online Service

What is a Federal Perkins Loan?
Federal Perkins Loan is a low interest federal loan formerly made available through the University. This loan must  be repaid to Florida A&M University.

If you have questions about your Federal Perkins Loan repayment:

Please visit or call :     

Student Financial Services
CASS Building
1735 Wahnish Way Suite 103
850 561-2949

or

Please mail correspondence to:
Student Financial Services
CASS Building
1735 Wahnish Way Suite 103
Florida A&M University
Tallahassee, FL 32307

Upon graduation or if you are enrolled less than half-time, please view the following link   www.mappingyourfuture.org   for Exit Counseling to avoid holds being placed on your account.

Is there a charge for this loan?
A Perkins Loan borrower is not charged any fees. However, if you skip a payment, make a payment late, or make less than a full payment, you may have to pay a late charge. If your failure to make payments persists, you may have to pay collection costs as well.

When do I pay back this loan?
If you're attending school at least half time, you have nine months after you graduate, leave school, or drop below half-time status before you must begin repayment (you may have longer than nine months if you are on active duty with the military). This is called a grace period. If you're attending less than half time, check with your financial aid administrator to determine your grace period. At the end of your grace period, you must begin repaying your loan. You may be allowed up to 10 years to repay.

How much will I have to repay each month?
Your monthly payment amount will depend on the size of your debt and the length of your repayment period.

Can I postpone repayment of my Federal Perkins Loan?
Yes. Under certain circumstances, you can receive a deferment or forbearance on your loan. During a deferment, you are allowed to temporarily postpone payments on your loan, and no interest accrues. You may receive a deferment under certain conditions, such as unemployment.

Deferments are not automatic. You must apply for one through your school by using a deferment request form your school can give you. You must file your deferment request on time or you'll pay a late charge. For more details on deferments, contact Student Financial Services at (850) 412-5041 .

If you are temporarily unable to meet your repayment schedule but are not eligible for a deferment, you can receive forbearance for a limited and specific period. During forbearance, your payments are postponed or reduced. Interest continues to accrue; you are responsible for it.

Forbearance isn't automatic either. You may be granted forbearance in up to 12-month intervals for up to three years. You must apply in writing for forbearance through the school that made your loan or the agency the school employs to service your loan. You'll have to provide documentation to support your request for forbearance. You must continue making scheduled payments until you are notified that deferment or forbearance has been granted.

Can my Federal Perkins Loan be canceled?
Yes. If the borrower dies or becomes totally and permanently disabled, the loan can be canceled. A loan can also qualify for cancellation under certain other conditions-as long as the borrower is not in default.

If you serve as an enlisted person in certain specialties of the U.S. Armed Forces the U.S. Department of Defense may, as an enlistment incentive, repay a portion of your student loan. Note that this is not a cancellation. If you think you qualify, contact your recruiting officer.

If you have any questions about the terms of your Federal Perkins Loan, repayment obligations, deferment, forbearance, or cancellation, please contact Loans & Collections at 850 412-5041. Only that school may grant deferment, forbearance, or cancellation, or make other decisions concerning your loan.
To update information regarding your Perkins Loan account and/or receive information regarding deferments and cancellations, please go to www.mycampusloan.com.
 
Short-Term Loans
Short-Term Loans are also administered by the Loans Department. The short-term loan is a revolving loan fund process which is administered by the Financial Aid Office. Students who receive short-term loan funds will be notified when the check is available for pick-up by the Loan section . The student must have two forms of picture ID in order to pick up the check.  


Contact Info

1735 Wahnish Way
CASS Building Suite 103
Tallahassee, FL 32307

P: 850.561.2949
F: 850.599.8618