Do banks ever give out Perkins Loans? Do they have to come from your school?

Question: I am looking for a Perkins loan, but my school doesn't offer the program. Can a bank give me a perkins loan like they give out Staffords?

Answer: Perkins is subsidized by the federal government and offered by the school. It has a fixed rate of 5% and generous forgiveness provisions. You must have extreme financial need to be eligible. Talk to your school's financial aid office for availability.

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