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Perkins Loan

Federal Perkins Loans are low interest (5 percent), long-term loans to help pay for your educational expenses. These loans are made to undergraduate and are awarded based on need. No interest is charged while students are enrolled in school on at least a half-time basis.

DISBURSEMENT:

Federal regulations require two disbursements of all Federal Perkins Loans. The first disbursement should be made during the fall semester provided that the Office of Financial Aid has received confirmation of the loan, that all documents have been received, and that there are no changes in expected enrollment status. The second disbursement should be made during the spring semester for fall/spring loans, provided there are no changes in expected enrollment status.

The lender for the Perkins Loan Program is Bowie State University.

The contact information is:

Bowie State University
Controller’s Office
14000 Jericho Park Road
Bowie, MD 20175
(301) 860-3475

LOAN SERVICER:

BSU's loan servicer for the Perkins Loan Program is Campus Partners.

The contact information is:

Campus Partners
P.O. Box 2902 
Winston Salem, NC 27102-2902
Telephone: 1-800-458-4492
Web: www.campuspartners.com/ 

EXIT INTERVIEW:

A student borrowing a Federal Perkins Loan must have an exit interview before leaving BSU or in the event they register less than half time (less than six credit hours).   

REPAYMENT:

Repayment begins nine months after you graduate, leave school, or drop below half-time status. You may be allowed up to 10 years to repay your loan. The amount of your payment depends on the size of your debt, but usually you must pay at least $40 per month.