2nd degree students eligible for Perkins Loan?

teacher08 · Mar 30, 2009

From my understanding, based on my financial lenders, an individual who seeks a 2nd degree can utilized federal student loans for tuition HOWEVER NOT pell grants, SEOG (sp?), etc. A graduate student has an aggregrate loan limit up to 138K (I know its at least 130K).

For example: Based upon a 130K educational loan aggregate

If you have a Masters degree and utilized 50K (for BS/BA or BS/BA and Masters program) you will have a balance of 80K for:

1. 2nd BS/BA degree

2. 2nd Master

3. Phd./Doctorate

Please contact your previous educational lender, if you are affliated, or any federal educational lending institution. I hope this helps. Have a great day.

pshs_2000 · Mar 30, 2009

I got a Perkins loan one summer during my 2nd degree program. That was only because financial aid that was supposed to be available for our class was suddenly not available and we didn't find this out until March before the summer term. A raising alot of cane and constantly being in contact with the financial aid office, Perkins loans and Nursing Student Loans appeared out of nowhere. Perkins loans funding is already limited nationally so I was really surprised when I got the loan. The amount you receive will depend on what's allocated to your school and what is given to 1st degree students first, and your financial need.

Perkins is a campus-based program because the schools act as lenders and financial administrators. While this is a federally funded program, it is the individual schools that determine what is exceptional need, the basis for distributing these funds.

It would be best to contact the financial aid office where you plan on attending school and ask the % of 2nd degree and grad students who get Perkins loans.

Hope this helps!