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Financial Aid for Undergraduate Students

Federal Perkins Loans

  • You, the student, are the borrower.
     
  • Need-based loan.
     
  • A credit evaluation is not required.
     
  • Repayment begins nine months after you are less than half-time status.
     
  • Federal Perkins loan funds are limited and will be awarded on a first-come first-serve basis to students who meet all other eligibility requirements. For you to be considered for the federal Perkins loan through Dakota Wesleyan University, you must meet DWU’s priority date deadline, DWU’s criteria, and Department of Education’s regulations.

**If you were not awarded the federal Perkins loan on your award letter, you did not meet the criteria for the federal Perkins loan.

Qualifying for the federal Perkins loan

**If you were not awarded the federal Perkins loan on your award letter, you did not meet the criteria for the federal Perkins loan.

If you fail to return all the paperwork and complete the loan entrance counseling, your federal Perkins loan may be removed from your award letter and awarded to another student.

Top of PageLoan limits

  • The amount you can borrow is determined by DWU.
     
  • A typical Perkins Loan amount is between $500 and $1500 per year.

Interest Rate and Fees

  • The interest rate is fixed at 5 percent.
     
  • No guarantee or origination fee.

Top of PageLoan Paperwork
Please print and complete these forms if you have accepted the Federal Perkins Loans. Then mail or fax them to the DWU Financial Aid Office.

Dakota Wesleyan University
1200 W. University Ave
Mitchell, SD 57301
800-333-8506
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Last updated: 10/31/12
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