Federal Perkins Loan

As of Oct. 1, 2017, the Federal Perkins Loan program expired and schools participating in it no longer offer and disburse new Federal Perkins Loans. The 2017-18 year was the last year that students received Federal Perkins Loans funding and the final Federal Perkins Loans were paid to students as of June 30, 2018.

This is a federal loan with limited funding. You will repay this loan to Western Michigan University. This loan has a fixed interest rate and is offered to students with significant need.


  • Federally funded, limited funding.
  • Need-based.
  • 5% fixed interest rate.
  • Offered to students with exceptional need. File your FAFSA annually by March 1. Funds may not be available for students who apply after April 1 for the upcoming aid year.
  • This is a loan you must repay to Western Michigan University.
  • Complete the student financial aid adjustment form if you wish to cancel or reduce a loan that has not been disbursed to your WMU account. If the loan has already disbursed, you must complete the student financial aid adjustment form within 30 days of the date of disbursement. Please note that canceling or reducing a disbursed loan may result in a balance due on your WMU account.
  • The annual loan limit is $5,500 for undergraduate students and $8,000 for graduate students.
  • The aggregate loan limit is $11,000 for undergraduate students who have completed less than two years of study, $27,500 for undergraduate students who have completed at least two years of study and $60,000 for graduate students (including loans received as an undergraduate).


  • Undergraduate, graduate student or teacher certification.
  • Offer eligibility based on estimated family contribution, enrollment and other resources.
  • Offer may be adjusted or canceled if EFC changes or if you receive additional resources.
  • Complete the student financial aid adjustment form to decline or reduce the loan.
  • Requires completion of the Federal Perkins Master Promissory Note


  • Repayment deferred and interest waived while enrolled at least half-time.
  • You will begin repayment nine months after you cease to be enrolled at least half-time. During this nine month grace period, interest will not accrue on the loan. Once the grace period expires, your loan will accrue interest and you will begin to repay your loan.
  • If you drop to less than half-time, withdraw, drop out, graduate or simply do not return to school, this information will be reported to the loan servicer and they will begin to count your grace period. You are responsible for notifying WMU immediately if your enrollment changes as described above.
  • Payments will be made to Western Michigan University.
  • Payments will be made through ECSI.
  • To obtain information about consolidating your Federal Perkins Loan with your other loans, visit studentaid.gov or call 1 (800) 557-7392. Federal consolidation allows you to refinance all of your federal loans into one loan and you will have one payment each month.
  • It is important that you maintain very important files and keep copies of your offer notices and your Master Promissory Note in one place as they provide the details of your loans, and your rights and responsibilities as a student loan recipient.

additional perkins loan disclosures

Additional disclosures for Federal Perkins Loans recipients, per keeping in compliance with the Federal Perkins Loan Program Extension Act of 2015.