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The student borrower's guide to painless Perkins payment

As you prepare to leave the University and begin your voyage of discovery, exploring strange new worlds, etc...we ask you take some time to become familiar with this "chart" of the dimension of your Federal Perkins Loan. Who knows? The time you spend now may help you avoid unpleasant alien encounters and a bumpy re-entry later.

An important part of your job is helping your understand and prepare to handle the responsibility of your Federal Perkins Loan repayment. To help you, we have put together this Federal Perkins Loan repayment guide.

It is important to remember that you may have several different types of student loans. Each loan has different rules and regulations which govern it. This guide covers only your Federal Perkins Loans. You may also have Direct Loans, Stafford Loans, Federal Supplemental Loans (SLS) for Students or a PLUS loan. These loans all are made with federal funds but they have nothing to do with your Perkins Loan.

Loan definitions Default
Promissory note Delinquent account
Grace periods Bankruptcy
Entering repayment Loan consolidation
Credit rating and
reporting
Rights and responsibilities recap
Collections