Federal Perkins Loan eligibility is calculated using the Federal Formula Cost of Attendance minus EFC (Estimated Family Contribution from the FAFSA form) equals need. Than we subtract out all Federal Grants, State Grants and institutional Aid; if there is a positive need and your EFC is below $38,000 you may qualify for a Perkins Loan.
Perkins Loan eligibility is determined by enrollment status meaning students can receive awards for full time but no less than part time within a semester.
Federal Perkins Loans will be disbursed directly to the students account via an electronic disbursement process. Disbursements will be made following the completion of the add/drop period is completed at the beginning of each semester.
Students must maintain Satisfactory Academic Progress as outlined on our website at www.stevens.edu/finaid/eligibility.php and file a FAFSA form each year by April 15th and remain eligible based on their EFC.