IONA

Federal Perkins Loan

Federal Perkins Loans are federal, campus-based loans that are awarded by Iona College based on need and the availability of funds. Students who submit a FAFSA will be automatically considered for Perkins loans along with Federal Direct Loans. Amounts vary according to need with a maximum loan of $4,000 per year at Iona. Students awarded Perkins Loan funds must complete a Promissory Note and Entrance Counseling. Funds will be disbursed directly to Iona College accounts, and students will be notified when these funds have been applied. Federal Perkins Loans must be repaid to Iona College at five percent interest, beginning nine months after leaving school or if you drop below half time, however, no interest accrues while you are in school.