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The Federal Perkins Loan (formerly called the National Defense and National
Direct Student Loan) is a federally funded low-interest loan. Fayetteville State
University is the lender using funds from the federal government and/or payments
collected from previous borrowers. The interest rate on the Perkins Loan is five
percent, and repayment starts nine months after you leave school or
graduate.
In order to apply for the Perkins Loan, you must complete the Free
Application for Federal Student Aid (FAFSA) or the Renewal FAFSA for the
appropriate school year. Fayetteville State University's Financial Aid
Office must receive the results of your FAFSA by our deadline date. You
must have financial need in order to qualify for a Perkins Loan. In general,
Fayetteville State University makes Perkins Loans that range from $1000 to $3000
per school year to be disbursed in equal semester payments, i.e., $500 and $1500
per semester, for two semesters, respectfully.
Borrowers who are awarded and do not decline their Federal Perkins Loan,
must complete the Federal Perkins Loan entrance conference. You can complete this
requirement on the web at
Mapping
Your Future. The counseling will inform you of your rights and responsibilities
as a borrower. Follow the instructions on the website. When you complete the
session, you will receive a confirmation number. Please print out the
confirmation information and bring it along with your FSU student ID and your
driver's license to the Federal Perkins Loan Office, C. J. Barber Building,
Room 139 in order to sign your master promissory note and finalize receipt of your Perkins
Loan. A borrower is required to sign the master promissory note only once a
year but, must sign a disclosure statement each time money is disbursed.
When you graduate (or leave school for other reasons), you must complete a
Federal Perkins Loan Exit Interview Conference. You can complete this
requirement on the web at
Mapping Your
Future. This Exit Interview will give you more
information about your repayment options, deferments, cancellation provisions,
etc. Failure to do so will result in a
"HOLD" being placed on your transcripts, diploma, etc.
Since 01/11/01
Federal Perkins
Loans
Division of Business and Finance
Fayetteville State University
1200 Murchison Road
Fayetteville, NC 28301
(910) 672-1158
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