Skip to content

Federal Perkins Loans

A Federal Perkins Loan is a low-interest (5% APR) loan for both undergraduate and graduate students with financial need. UTK is the lender. The loan is made with government funds and a shared contribution by UT. The borrower must repay this loan to UTK. The principal and interest that is repaid is deposited back into the loan fund to lend to current and future students.

This loan may be prepaid at any time without penalty.  Excess payments will be applied to the principal unless they are designated as prepayment of the next regular installment.

The loan has a 9 month initial grace period and once the 9 month grace period has been used, a 6 month post deferment grace period applies.  Interest does not accrue during grace periods.


The flagship campus of the University of Tennessee System and partner in the Tennessee Transfer Pathway.