Federal Perkins Loan
The Federal Perkins Loan program is a campus-based student loan which may be offered to students whose FAFSA information is considered On-time for priority consideration and with the lowest Estimated Family Contribution (EFC) - based on the availability of funds or with demonstrated financial need.
- Complete a FAFSA with the U.S. Department of Education
- The Department of Education will process the information provided on FAFSA and send the student a SAR (Student Aid Report). The Student Aid Report will give the student information on the processing of their aid. Students are strongly encouraged to read the report thoroughly. The school would receive the EFC to be able to process the student’s eligibility for federal student aid.
- The Financial Aid office reviews the student’s eligibility. Once the student is determined to be eligible to receive aid, an award will be posted on HU Net for your eligibility status or to see the outstanding requirements for your financial aid. You may also contact counselor for eligibility requirements and your status. The student would need to agree to all disclosures and then accept the aid offered to the student in order for the aid to be processed.
- Based on the availability of funds, the timeframe in which the FAFSA was received, and the student’s eligibility, the student could be offered a Perkins loan.
- The student would need to accept the offered Perkins Loan on HU Net if they choose to take advantage of this limited offer.
- Once the Perkins Loan is accepted on HU Net, the Collections Office will need the student to Complete Promissory Note and Entrance Counseling. Returning awardees must complete the Truth-In-Lending form at the website above each year he/she is awarded the loan.
- Hampton University’s disbursement dates are generally scheduled every Tuesday and Thursday. Students are strongly encouraged to view HU Net after 5pm on the scheduled disbursement date to view their student account balance. If the student is due a refund, the Office of Students Accounts would be able to now process the refund. It is the advice of this office that student sign up for E-Refund on HU Net to expedite the refund process. For further information on the E-Refund process, please contact the Business Office at 757-727-5610 or toll free at 1-800-624-3327.
- All students that have borrowed federal student loans and either graduate or drop below half-time enrollment status are required to complete Exit Loan Counseling. This session is to remind the student of their rights and responsibilities as a student borrower and advise of repayment options available to the student.