Perkins Loan

Business, Legal & Accounting Glossary

Definition: Perkins Loan


Perkins Loan


Full Definition of Perkins Loan


A need-based, low-interest loan available to students rather than their parents. The amount of the loan is determined by each college and is based on the expected family contribution. The student will be held responsible for this loan, not the parent. Repayment doesn’t begin until after a student graduates, falls below half-time student status, or leaves college. After graduating, a student typically has a nine-month grace period during which interest doesn’t accrue. Perkins loans offer low interest rates to students and can be repaid within ten years.


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https://payrollheaven.com/define/perkins-loan/ (accessed: March 29, 2024).
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, from PayrollHeaven.com website: https://payrollheaven.com/define/perkins-loan/

Definition Sources


Definitions for Perkins Loan are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 19th November, 2021 | 0 Views.