PerkinsLoan
FEDERAL PERKINS LOAN INFORMATION

If you have been awarded a Federal Perkins Loan. Please complete the steps listed below if you wish to accept this loan.

A Federal Perkins Loan Master Promissory Note must be returned within 30 days of the date the notification email was sent to you or your Federal Perkins Loan funds may be canceled.

REPAYMENT

You have a nine-month grace period after you graduate, leave school, or drop below half-time status before you must begin repayment on your Federal Perkins Loan. The amount borrowed must be repaid within ten years after the date on which repayment begins. You must notify CMU when you withdraw, drop below half-time status, or when you transfer to another institution as well as when you change your name, address, or social security number.

 MASTER PROMISSORY NOTE (MPN)

The Federal Perkins Loan Master Promissory Note only needs to be signed once per academic year as awarded. It does not specify a dollar amount. You will be notified each time a Federal Perkins Loan is offered or adjusted.

 INSTRUCTIONS FOR THE FILLABLE MPN:

1.     Type information on page 1 and the following pages will fill in automatically.

2.     Read the terms and conditions.

3.     PRINT, SIGN (blue or black ink), and DATE.

4.     Keep pages 3 - 6 for your records.

5.     Return pages 1 & 2 with your signature to:

CENTRAL MICHIGAN UNIVERSITY
OFFICE OF SCHOLARSHIPS AND FINANCIAL AID
STUDENT SERVICE COURT
MOUNT PLEASANT  MI   48859

PLEASE NOTE: We must receive ORIGINAL signatures;
faxes and photocopies are NOT acceptable.

APPROXIMATE

REPAYMENT CHART

5% Interest

LOAN

AMOUNT

PERKINS

PAYMENT

$1,000

$120

$4,000

$128

$4,500

$144

$5,000

$160

$5,500

$176

$6,000

$192

$6,500

$207

$7,000

$223

$7,500

$239

$8,000

$255

$8,500

$271

$9,000

$287

$9,500

$303

$10,000

$319

$10,500

$335

$11,000

$351

$11,500

$367

$12,000

$383

$12,500

$399

$13,000

$415

$13,500

$431

$14,000

$447

$14,500

$463

$15,000

$479

$15,500

$495

$16,000

$511

$16,500

$527

$17,000

$543

$17,500

$559

$18,000

$575

CENTRAL MICHIGAN UNIVERSITY

1200 S. Franklin St • Mount Pleasant, Mich. 48859
Phone: 989-774-4000

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