The University of Minnesota is one of approximately 1,700 public and private U.S. colleges and universities where low-income undergraduate and graduate students borrow money from their schools through the Federal Perkins Loan. However, this option may soon expire. Without congressional approval to reauthorize the Federal Perkins Loan, the program will end September 30 of this year.
The University has packaged and offered Perkins per usual but the September 30 deadline means that first time Perkins borrowers will need to have their Perkins money disbursed prior to the September 30 deadline. Students who have had a Perkins loan disbursed on or before June 30, 2015 are grandfathered into the program as long as they remain in the same academic program.
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