If you’re an undergraduate or graduate student and your Expected Family Contribution shows that you need money to pay for your education, you’ll be considered for a Federal Perkins Loan. You must also file your FAFSA each year and meet the eligibility requirements:
- You must be enrolled at least half time.
- Undergraduate half time: six credit hours
- Graduate half time: four credit hours
- You must be a U.S. citizen or national, a U.S. permanent resident, or an eligible noncitizen.
Students who show exceptional financial need will be considered first. Indiana University determines loan amounts. Note that IU’s Student Loan Administration handles the promissory note and exit counseling for Federal Perkins Loans.