Perkins Loan FAQs What is a Federal Perkins Loan?The Federal Perkins Loan is a student loan that is borrowed directly from Hamline University. The fixed annual interest rate is 5 percent. However, this loan is interest free until repayment begins, which is nine months after you leave school or drop below half-time status.How Do I Apply for a Federal Perkins Loan?Federal Perkins Loans are awarded to students through their financial aid package. Upon verifying eligibility, you will need to complete the application process and sign your Perkins Master Promissory Note (MPN) online at www.signmyloan.com You will receive an e-mail notification from Sign My Loan when your Perkins Loan is available to sign online. This e-mail will contain specific instructions for completing the online process. The e-mail notice will be sent to your preferred e-mail address, which is recorded in Piperline. It is extremely important that you verify this address as it is a critical communication tool in the Perkins Loan process.How do I receive my Federal Perkins Loan funds?Once you have electronically signed your MPN, your Federal Perkins Loan dollar amount will be applied to your student account on a semester basis for the academic year.If you have Federal Perkins Loan eligibility on your award letter and you do NOT want to borrow this loan, please send a written notice to the Office of Financial Aid or e-mail them at email@example.com.Who is University Accounting Services?University Accounting Service (UAS) is a student loan management service. We have a partnership with them to assist in the administration and billing of Federal Perkins student loans. Do not disregard mail from UAS.Contact InformationIf you have any questions regarding your Perkins loan, please call 651-523-2020, toll free at 888-211-1829.Federal Perkins Loan LinksMake a payment Set up online access for your account Student Deferment forms Future of the Perkins Loan ProgramHelp save the Perkins Loan! If you have benefited from a Federal Perkins Loan, we want to hear from you. Contact COHEAO to write a letter of support to your Senator or Representative and for other information on the future of the program.