Federal Perkins Loans
This is a federally subsidized loan awarded by
Tufts for both undergraduate and graduate students with exceptional financial need.
Federal Perkins Loans cannot exceed $6,000 per year
and an aggregate limit of $40,000 for undergraduate
and graduate study. The interest rate on this loan
is 5% with a maximum ten-year repayment. You are
required to apply for the maximum Federal Direct Loan before you will be considered for a Federal
Perkins Loan.
No interest or repayment is required while you are enrolled at least half-time in college or
graduate school. A Perkins loan borrower is entitled to one nine month grace period. The grace
period begins the day the student graduates, withdraws or drops below half time status. Full
information, including deferment and cancellation privileges, is provided when the promissory
note is signed.
ALL first time borrowers must complete the Perkins Promissory Note process electronically.
Borrowers will be informed of procedures by our Perkins loan servicer, University Accounting
Services (UAS), via email and letter. The email will come from the UAS partner,
"signmyloan@signmyloan.com."
NOTE to entering students: You will be informed during the summer about when to
complete this MPN. Do not attempt to complete this process before hearing from Tufts that
it is appropriate to do so.
- Get a UAS generated PIN from the
UAS website.
Wait for the response Email in order to complete the PIN generation and receipt process.
- AFTER you have received your PIN, sign your promissory note electronically using your pin
at the SignMyLoan
Online Signature site.
If difficulties arise with the site, UAS can be reached at (800)401-9306.
A Perkins Exit Loan Counseling interview is
required upon leaving the university. For
information on repaying or deferring your Perkins
Loan, contact our servicer, University Accounting
Services, at (800) 999-6227.
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