The Federal Perkins Loan is a low interest rate loan made to qualifying John Carroll University students. John Carroll is the holder of your loan. The interest rate is 5 percent and the repayment term is 10 years.
You must begin to repay your loan once you graduate, leave school, or drop below half-time enrollment status. You are allowed a grace period before beginning repayment. If your loan is newly activated (entering the repayment cycle), you have nine months before interest begins to accrue on your loan and 12 months before your first payment is due.
If needed, contact the Perkins Loan office at 216.397.4971.