Need-Based Financial Aid

Federal Perkins Loan

The Federal Perkins Loan is a federally subsidized, fixed low-interest student loan funded by the federal government, Emmanuel College and repayments from previous Perkins Loan borrowers. Eligibility is determined by the Office of Student Financial Services and is based upon the information provided on the FAFSA.

This loan is awarded to students with exceptional financial need and is limited by the availability of funds in the College's Federal Perkins Loan program. Notification of eligibility of this loan will appear on your Financial Aid Award Letter.

Interest Rate 5%
Maximum Undergraduate Annual Loan Amount $5,500
Maximum Undergraduate Aggregate Amount $27,500
Repayment Period 10 years; begins 9 months after no longer enrolled at least half-time
Interest Charged While Enrolled at Least Half-time No
Servicer UNISA, Inc.
To learn more, visit

What must I do to accept my Federal Perkins Loan?

If you've been awarded a Federal Perkins Loan, all first-time borrowers at Emmanuel College must complete and sign both:

  1. Master Promissory Note (MPN) at; and
  2. Entrance Counseling at

Borrowers will be notified via e-mail in September when these required documents are available. Funds will be credited to the student's account only after the completion of the MPN and Entrance Counseling.

What happens after I am no longer a full-time Emmanuel student?

All students are required to complete exit counseling prior to withdrawing, dropping below half-time status or graduating. Please contact our office at 617-735-9938 or via e-mail at

Loans will be submitted to the National Student Loan Data System and will be accessible by guaranty agencies, lenders and schools determined to be authorized users of the data system.