General Information

About the Perkins Loan

The Perkins Loan is a low-interest (5%) loan available to both graduate and undergraduate students with great financial need. It is a Title IV, campus-based loan, made up of university and federal dollars. WSU is your lender.

This is a loan and must be repaid.

How to Apply

A FAFSA (Free Application for Federal Student Aid) must be completed. Once WSU Financial Aid receives this information, they will send an award letter to the student. The letter will indicate whether the student has been awarded a Federal Perkins Loan, in addition to any other financial assistance. Perkins funds are limited so early application, along with need, are crucial to receiving this loan.

Financial Aid will also notify the Perkins Loan Department of the student's award. Borrowers will be contacted to complete an online Entrance Interview and promissory note with Educational Computer Systems, Inc.

For any further questions regarding eligibility or the awarding process, contact WSU Financial Aid Office.*

Maximum Borrowing Amounts

$5,500 for each year of undergraduate study, up to $27,500.

$8,000 for each year of graduate or professional study, up to $60,000, (including any Perkins loans borrowed as an undergraduate).

The award amount will depend on when the application is received, the level of need of the student, and the funding level of the school.

Reference: US Department of Education Student Guide: Federal Perkins Loans*

Distribution of the Perkins Loan

The amount awarded by Financial Aid will be posted to the student's myWSU account during the registration period each semester.

Credit Bureau Reporting

Perkins loans will be reported to TransUnion Credit Bureau on a monthly basis. To contact TransUnion customer service, call 1-800-916-8800.


After ceasing to be at least a half time student at WSU (graduating, leaving school, or droping below half time status), the borrower will have a nine month grace period before beginning loan repayment.

After the grace period expires, interest will begin to accrue and repayment on the loan begins. Payments will be due on the 15th of every month for a scheduled ten year maximum repayment period. To view a sample repayment schedule, visit the ECSI Website.*

Perkins loans may be consolidated with other Title IV student loans. View the Consolidation page for more information.

Deferment and Cancellation

Under certain circumstances, repayment of a Perkins loan can be deferred. During deferment, payments are not required and interest does not accrue. After deferment, the borrower is entitled to a post-deferment grace period of six consecutive months.

Types of deferment include: (click on links for more information)

Student Deferment
Economic Hardship/Unemployment Deferment
Professional Employment Deferment and Cancellation


* This link leaves the WSU Accounts Receivable website.