The Federal Perkins Loan Program, often called Perkins Loans, are a source of low-interest federal loans for students who demonstrate financial need; students with exceptional need receive priority consideration for the award.
The US Department of Education (USDE) has informed Monmouth University that Congress did not take action to extend the Perkins Loan Program beyond the program's expiration date of September 30, 2015. Therefore, schools may not make Federal Perkins Loans to new borrowers after September 30, 2015. However, USDE has provided guidance to schools for students who may be grandfathered into the program until the final expiration date of September 30, 2020. To learn more about eligibility for grandfathering, please click on the eligibility link listed below.