Student Accounts

Perkins Loans

Perkins Loan Online Service

What is a Federal Perkins Loan?
Federal Perkins Loan is a low interest federal loan made available through the University. This loan must  be repaid to Florida A&M University. The loan is awarded to students with exceptional financial need. The student must be enrolled for at least six credit hours to be eligible. The interest rate is 5 percent and repayment begins nine months after graduation or at any time a student is no longer enrolled for at least six credit hours. Deferments and cancellation provisions are available. Students must complete a Master  Promissory Note which includes entrance counseling by navigating to iRattler.

If you have questions about your Federal Perkins Loan repayment:

Please visit or call :     

Student Financial Services
1700 Lee Hall Drive FHAC G7
Florida A&M University
850 561-2949


Please mail correspndence to:
Controller’s Office
1700 Lee Hall Drive FHAC 201
Florida A&M University
Tallahassee, FL 32307

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

How much can I borrow?
Depending on when you apply, your level of need, and the funding level of the school, you can borrow up to:

$4,000 for each year of undergraduate study (the total amount you can borrow as an undergraduate is $20,000 if you have completed two years of undergraduate work; otherwise, the total you can borrow is $8,000).

$6,000 for each year of graduate or professional study (the total amount you can borrow as a graduate/professional student is $40,000, including any Federal Perkins Loans you borrowed as an undergraduate).

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.

How will I be paid?
Your loan will be disbursed through the net check process. Generally, you'll receive the loan in at least two payments during the academic year.

Will I have an opportunity to cancel my loan after I sign the promissory note?
Yes. You will be notified in writing whenever your loan is credited to your account with your Perkins Loan funds. This notification must be sent to you no earlier than 30 days before, and no later than 30 days after the school credits your account. You may cancel all or a portion of your loan if you inform Student Financial Services that you wish to do so within 14 days after the date that your school sends you this notice, or by the first day of the payment period, whichever is later.   Please contact Loans and Collections staff at 850 412-5055  or visit FHAC Room G7 to cancel your loan.

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 850 412-5055. 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
Short-Term Loans
Short-Term Loans are also administered by the Loans and Collections 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 Loans and Collections. The student must have two forms of picture ID in order to pick up the check.  

Contact Info

1700 Lee Hall Drive
Foote-Hilyer Rm G7
Tallahassee, FL 32307

P: 850.561.2949
F: 850.599.8618