Federal Perkins Loan Program
GPTKB entity
Statements (59)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:financial_assistance
|
| gptkbp:application |
FAFSA required
|
| gptkbp:borrower_responsibilities |
repay loan with interest
|
| gptkbp:cancellation_reason |
available for teachers in low-income schools
certain military service members |
| gptkbp:created_by |
gptkb:U._S._Department_of_Education
|
| gptkbp:currency |
5%
|
| gptkbp:disbursement_method |
directly to the school
|
| gptkbp:effective_date |
requires completion of FAFSA and school-specific forms
|
| gptkbp:eligibility |
financial need
|
| gptkbp:financial_aid |
$27,500 for undergraduates
handled by the school or a third-party servicer |
| gptkbp:financial_aid_office_role |
assists with application and information
|
| gptkbp:financial_literacy_requirement |
borrowers encouraged to understand loan terms
|
| gptkbp:first_disbursed |
gptkb:1958
|
| gptkbp:funding |
gptkb:federal_government
limited by federal appropriations based on financial need and school participation funded through federal appropriations and institutional contributions |
| gptkbp:grace_period |
9 months after leaving school
|
| https://www.w3.org/2000/01/rdf-schema#label |
Federal Perkins Loan Program
|
| gptkbp:impact_on_credit_score |
can affect credit score if defaulted
|
| gptkbp:impact_on_future_loans |
may affect eligibility for other loans
|
| gptkbp:impact_on_tax_returns |
interest may be tax-deductible
|
| gptkbp:interest_capitalization |
occurs if payments are missed
|
| gptkbp:investment |
during school deferment period
|
| gptkbp:is_designed_to |
varies by institution
|
| gptkbp:legacy |
part of the history of federal student aid in the U. S.
|
| gptkbp:loan_amount |
up to $5,500 per year
|
| gptkbp:loan_application_deadline |
varies by institution
|
| gptkbp:loan_consolidation |
possible with other federal loans
|
| gptkbp:loan_default_consequences |
collection actions and credit damage
|
| gptkbp:loan_disbursement_frequency |
typically annually
|
| gptkbp:loan_discharge |
available in cases of total and permanent disability
|
| gptkbp:loan_eligibility_verification |
requires documentation of financial need
|
| gptkbp:loan_forgiveness |
available for certain public service jobs
|
| gptkbp:loan_interest_rate_changes |
fixed at 5% for the life of the loan
|
| gptkbp:loan_renewal |
not renewable, but can apply for new loans
|
| gptkbp:loan_repayment_assistance |
available for certain professions
|
| gptkbp:loan_repayment_challenges |
can be difficult for some borrowers
|
| gptkbp:loan_repayment_plan_options |
various plans available
|
| gptkbp:loan_servicer |
varies by institution
|
| gptkbp:loan_transferability |
loans cannot be transferred between borrowers
|
| gptkbp:loan_type |
subsidized loan
|
| gptkbp:notable_production |
helped millions of students afford college education
|
| gptkbp:payment_methods |
9 months after graduation
standard, graduated, and income-sensitive plans |
| gptkbp:program_end_date |
September 30, 2017
|
| gptkbp:program_history |
established as part of the National Defense Education Act
|
| gptkbp:program_termination |
terminated due to lack of federal funding
|
| gptkbp:purpose |
provide low-interest loans to students
|
| gptkbp:repayment_start_date |
after grace period ends
|
| gptkbp:replacement_program |
gptkb:Federal_Direct_Loan_Program
|
| gptkbp:route_of_administration |
managed by colleges and universities
|
| gptkbp:target_audience |
undergraduate and graduate students
|
| gptkbp:throws |
available for economic hardship
|
| gptkbp:bfsParent |
gptkb:The_United_States_Department_of_Education
gptkb:Educational_Institution |
| gptkbp:bfsLayer |
3
|