PERKINS LOAN
Review and complete the following requirements IF your financial aid package includes a Perkins Loan which must be accepted to receive the funds. If you do not want the loan, contact the financial aid office at 509-793-2034 to deactivate this portion of your award.
A Federal Perkins Loan is a low-interest (5 percent) loan offered to Big Bend Community College undergraduate students with exceptional financial need. BBCC is your lender. The loan is made with government funds with a share contributed by the school. You must repay this loan to your school, or to the billing service engaged by your school as its agent to administer billing and collection functions.
- This is a need-based loan.
- This loan may be used only for educational expenses.
- Interest on the loan does not accrue while you are in school, during your grace period, and during authorized periods of deferment.
- The interest rate is fixed at 5%.
- Repayment begins nine months after you are no longer enrolled on at least a half-time basis.
- Maximum Perkins Annual loan amount for undergraduate students is $4,000.
Important! Important! Important!
It is important to remember that loans must be repaid; even if you do not complete your education, are not employed upon completion of your studies, or feel that the education you received did not meet your expectations.
Requirements to accept your Perkins Loan:
Our records indicate you have been offered a Perkins Loan as part of your financial aid package. This is a loan that must be repaid, so we are required to conduct an Entrance Counseling with all Perkins borrowers. Follow this link to complete the “Entrance Counseling” session. To activate your Perkins loan, you must complete the Entrance Counseling and also complete, sign, and return all documents mailed to you for your Perkins Loan.
Requirement after you leave school or drop below half-time attendance:
Our records indicate you have left Big Bend Community College or dropped below half-time attendance. As part of the Perkins loan you must complete the Exit Counseling session. Follow this link to complete the “Exit Counseling” session. Also, you must complete, sign and return all documents mailed to you for your Perkins loan.