Uncertain about Perkins loan disbursements

kelsmom
Sat, 08 May 2010 22:13:06 +0000

Schools cannot disburse funds more than 10 days prior to the start of the term - many choose to do it later; some wait for 30 days. So I would guess the money won’t be ready in July (unless she is starting early).

Perkins is owed to the school, so these loans are not part of the Stafford repayment. They can be consolidated in with Stafford, but that can raise the interest rate - although it really depends on the individual student’s rates, as rates vary by year. Every student who is considering consolidating needs to contact the lender to find out what is the best thing for HER to do. Have her go to www.nslds.ed.gov to access her loan information & read about loans/repayment.