Federal Perkins Loan*
On December 18, 2015, the Federal Perkins Loan Program Extension Act of 2015 was passed. Due to this legislation, the Federal Perkins Loan Program will only be available through September 30, 2017.
The Federal Perkins Loan is a Federal loan based on financial need.
- Students must be accepted/enrolled in an undergraduate degree program.
- All Villanova students must follow and complete the appropriate instructions to apply for financial assistance to be considered for this loan program.
- The Perkins Loan is a 5% interest loan and becomes payable nine months after leaving the University, or nine months after the student is no longer enrolled at least half-time.
- Entrance and Exit interviews for Federal Perkins Loans are required by federal law.
- No payments will be made to the student's account until all requirements, including Promissory Note and Entrance Interview, have been completed by the student borrower.
- A hold may be placed on a student's transcript if the student does not complete the exit interview.
- If you have any questions about the Federal Perkins Loan, please send us an e-mail with your question, name, and Villanova University number to firstname.lastname@example.org.
**IMPORTANT NOTICE ABOUT THE FEDERAL PERKINS MASTER PROMISSORY NOTE:
As of May 10th, the FAFSA replaced the 4 Digit PIN Number with a FSA ID Username and Password for security purposes and to simplify and streamline the application process (please visit http://www1.villanova.edu/villanova/enroll/finaid/process/undergrads/step1.html for more information and instructions). Due to this change, students will now authenticate their identity using credit criteria, similar to what you would see when you access your credit report. In cases where the student does not have that criteria, ACS will not be able to authenticate their identity. Therefore the student will receive the message, “I’m sorry. Your identity was not able to be verified based on the information you provided. Consequently, your promissory note HAS NOT been signed. Please select the Print Document(s) below to print and sign your document and present the signed paper form(s) to the office listed below.” Click on the Print Promissory Note button, print and complete the documents, and mail it to:
Office of Financial Assistance
800 East Lancaster Avenue
Kennedy Hall, Second Floor
Villanova, PA 19085