The Perkins Loan is a subsidized federal campus-based loan with a fixed 5 percent interest rate when in repayment. You will not be charged interest on this loan while you are attending school and enrolled at half-time or more. Perkins funds are limited to $1,500-$3,000 and students must meet a grade point average (GPA) requirement of 2.8. Awards are typically given to freshmen and students with children and are limited to $3,000. Repayment begins nine (9) months after you leave school, graduate, or drop below half-time enrollment. Perkins loan debt can be forgiven for students who are employed in service industries such as teaching or law enforcement. Please click on the link for more information about loan forgiveness.