Federal Perkins Student Loan

Entrance Information Session

Award Package
You accepted a Linn-Benton Community College (LBCC) financial aid package that included a LBCC Federal Perkins Student Loan. The Loan is a legal obligation and it must be repaid. This is your required Entrance Information Session.

You signed a Master Promissory Note (MPN) and completed a Personal and Confidential Information Form for this Loan.

After you complete this session, you must return your fully completed Promissory Note, Personal and Confidential Form, and Statement of Understanding Form to the LBCC Student Loan Specialist.

Eligibility To Borrow
The amount LBCC will loan to you is limited by your eligibility to borrow, the amount you have borrowed to date, your year in school, and the amount of funds available.

A Federal Perkins Loan applicant may borrow, upon eligibility determination and availability of federal funds at the school, a maximum of $4,000 each undergraduate year. A maximum of $8,000 may be borrowed during the first two years of your academic program.

Please refer to your LBCC 2004-2005 award letter for your Federal Perkins Loan amount and loan period.

Accepting a Federal Perkins Loan may reduce eligibility for other forms of student assistance. For an explanation on how it will affect your individual eligibility, please call the LBCC Financial Aid Office at (541) 917-4850.

Disbursements
A Portion of your Perkins Loan will be credited each term to your account in the Business Office at LBCC. Charges on your account will be deducted at that time. If a net amount remains, a check will be processed after the third Wednesday of each term.