The Federal government provides funds, and Marquette selects eligible students and determines each student's loan amount.
The interest rate is a fixed rate of 5 percent. No interest accrues while the student is enrolled at least half-time. Standard repayment period is 10 years. Repayment begins and interest accrues nine months after the last date of half-time enrollment. Students are billed monthly by Marquette's Student Loan Accounts. Student must have exit interview complete before leaving Marquette. Under certain circumstances, loan payments may be deferred (postponed), and portions of the loan may be canceled.
Award is renewed only if all necessary forms are processed and received prior to February 1, the student continues to meet eligibility requirements and funds are available at the time that the application is complete. 2017-18 will be the last year Federal Perkins Loans will be made to undergraduate borrowers as the undergraduate Perkins Loan program is ending 9/30/2017. No additional loans will be available after that time.
The Office of Student Financial Aid provides undergraduate and graduate students with resources about types of financial aid and student employment.
FAFSA School Code: 003863
Questions or for more information, contact the Office of Student Financial Aid