Federal Perkins Loans

There are limited Federal Perkins Loan funds available to students with exceptional need.

The Federal Perkins Loan has a 5% annual interest rate with a 10-year repayment period. No interest accrues on this loan while you are enrolled in college at least half-time. Payments of interest and principal begin 9 months after you are no longer enrolled at least half-time.

Authorization Instructions

If you have been awarded a Perkins Loan, please follow these steps to accept the award:

1. Go to therock.nwc.edu and log in (only students can log in to theROCK with their username and password)
2. Click on the Finances tab
3. Select the "Financial Aid Awards' section in the upper-left of the page
4. Select the aid year
5. Click on the "terms and conditions" to read and then accept
6. Now you can choose to accept, change or decline loans on the "accept award offer" tab
7. Finally, if you are a new Perkins Loan borrower, you must complete Perkins Entrance Counseling