FEDERAL PERKINS LOAN PROGRAM
BORROWERS RIGHTS AND RESPONSIBILITIES ACKNOWLEDGEMENT
I understand that my FEDERAL PERKINS LOAN is a loan and must be repaid and
I fully accept that responsibility.
I understand that my Federal Perkins Loan is for my educational expenses.
I understand repayment will begin if I am not registered at least half time after a 9 month grace
I will inform my school if my address, phone number, or name changes, if I leave school, transfer, or
drop below half-time status, or if I change my graduation date.
I am not in default on any other Federal Perkins or any loans under the Federal Family Education
Loan Program or Federal Direct Student Loan Program nor do I owe any repayments
on prior Federal Student Aid.
I understand that a loan that is one day past due is considered a defaulted loan.
I understand that all disbursements are reported to National Credit Bureaus.
I understand that there are various cancellation provisions if I am employed in certain professions.
I acknowledge that I have been fully informed of my rights and responsibilities under the
Federal Perkins Loan Program during my entrance interview.