Benefits of consolidating school loans
Your Perkins Loan promissory note binds you to the contract, so failing to follow through with scheduled payments has devastating credit consequences.
Your loan may be administered by a student loan servicing company.
Families with annual incomes below ,000 usually qualify for Perkins Loans.
If your ability to pay for school is significanly hindered by your economic background, Perkins loans bridge the affordability gap that remains after all other forms of financial aid are exhausted.
Repaying your Perkins Loan on time actually helps you build credit, so responsible borrowing for education should not be under-utilized.
The school you attend becomes your Perkins lender, and not all universities participate in the program.
Perkins Loans fill important funding roles for students who qualify; but the pool of aid isn’t bottomless.
If you have your eye on Perkins financing, the keys to winning a loan are filing early and meeting federal financial aid eligibility requirements.
Formal offer letters from university financial aid offices break down the types of assistance the college is extending to you.