Federal Perkins Loan

What is a Federal Perkins Loan?
The Federal Perkins loan is a Federal school-based student loan program.  St. John's University administers Perkins Loans directly for the federal government

Who is eligible?
Eligibility for the federal Perkins Loan is determined by the Office of Student Financial Services and is based upon financial need.  To be considered for the Federal Perkins Loan, you must file the Free Application for Federal Student Aid (FAFSA).  Priority for Perkins Loans is given to students with exceptional financial need.

What are the benefits of the Federal Perkins Loan Program?

  • Funds are credited directly to your account at St. John's University
  • Interest is fixed at five percent
  • No interest accrues while you are enrolled at least half time (the equivalent of six credits per term).
  • There is a nine-month grace period after you are no longer enrolled (during which time no interest accrues) before loan repayment must begin. The grace period starts when you graduate, leave school, or fall below half time status in school (the equivalent of six credits per term).
  • You have up to 10 years to repay your Perkins Loan
  • You are offered various options for deferment and/or cancellation of your Perkins Loan, such as returning to school, serving on active duty in the military and teaching in critical shortage areas

Please Note:

  • If the Federal Perkins Loan is listed as “pending” on your award letter, you must submit all requested documentation to verify the data on your FAFSA.  Your Perkins Loan funds will not be paid to your account until all outstanding documentation requirements have been satisfied. (Please see information regarding checking for “Student Requirements” on UIS).
  • If you do not complete the Perkins Entrance Interview and Promissory Note within four weeks of the loan offer you may forfeit eligibility for this loan offer. (Please see information regarding the Perkins Entrance Interview and Promissory Note).
  • If you have any questions regarding the Perkins Loan program, please call the Office of Student Financial Services at (718) 990-2000.

What is the Federal Perkins Loan Application Process?

Step 1: Print, Read and Sign Federal Perkins Master Promissory Note (PERKINS MPN)

  • Please note that you must complete a new Perkins Loan MPN each school year
  • Go to https://apollo.stjohns.edu
  • Log in to your personal UIS (University Information System) account by providing your St. John’s User ID and six-digit PIN Number
  • Select the Financial Aid tab
  • Click on My Eligibility
  • Click on Student Requirements
  • Click on Select Aid Year and select 2013-2014
  • Click on Obtain the Perkins Loan MPN on-line under the Outstanding Requirements column
  • You will see: a statement of Rights and Responsibilities as well as the Perkins Loan MPN. (In order to open this file you must have Adobe Acrobat available on your computer. You may download the Adobe Acrobat software)
  • Print the Federal Perkins Master Promissory Note (Perkins MPN)
  • Read carefully and sign page as instructed
  • Print out the Statement of Rights and Responsibilities and retain this statement for your records
  • Return the signed Perkins MPN page only to our processing center:
    • St. John's University
      P.O. Box 548
      Randolph, MA  02368-0548

Step 2: Complete your Perkins Loan Entrance Interview

It will take you approximately one half hour to complete an online Perkins Loan Entrance Interview.  

Be prepared to provide personal information regarding your address, phone number and the complete names, addresses and phone numbers of two personal references. This information must be updated annually; you must complete a new Perkins Loan Entrance Interview each school year.

  • In UIS return to the Outstanding Requirements column
  • Click on Complete Perkins Entrance Interview on-line
  • A Financial Counselor Web page will appear on the screen
  • Click on the blue Entrance interview option
  • A brief tutorial will appear, please read thoroughly and click continue at the bottom of page
  • You will be prompted to login to the Financial Counselor system by providing your social security number and date of birth
  • Continuing borrowers will be provided with a cumulative borrowed statement and new borrowers will be provided with a loan calculator to determine future monthly payments
  • On each page you will be provided important data regarding your Perkins Loan

What happens next?
After you have completed your Entrance Interview, you will receive an e-mail confirmation and notification will be sent to the Office of Student Financial Services.  When you have completed your Entrance Interview on-line and returned the completed Perkins MPN, your Perkins Loan requirements are satisfied and your Perkins loan amount will be disbursed by term to your St. John’s account.