Federal Perkins Loan

A Federal Perkins Loan is a low-interest (5 percent) loan for undergraduate and  students with exceptional financial need. Federal Perkins Loans are made through the financial aid office. Morgan State University is your lender, and the loan is made with government funds. You must repay this loan back to MSU. After you graduate, leave school, or drop below half-time enrollment, you have a period of time before you have to begin repayment. This "grace period" is Nine months.