Perkins Loan Reduction Schedule
The Loan Reduction Schedule is for nursing graduates working in the field of nursing, who wish to cancel their Federal Perkins Loan.

• 15% cancelled for first year of employment
• 15% cancelled for second year of employment
• 20% cancelled for third year of employment
• 20% cancelled for forth year of employment
• 30% cancelled for firth year of employment

Federal Stafford Loan Program
The Federal Stafford Student Loan is an educational loan available to students accepted/enrolled on at least a half time basis a degree program. Eligibility for the Federal Stafford loan is based on cost of education, amount of other financial aid being received, as well as an expected education family contribution towards educational costs. Repayment begins 6 months after the student leaves the University or is no longer enrolled at least half time. The student has up to 10 years to repay. Students are eligible to borrow up to the following:
 

Nursing Student Loan
The Nursing Student Loan is a Federal loan based on financial need for students to supplement Stafford Loans. The Nursing Student Loan is a 5% interest loan and becomes payable 9 months after the student is no longer enrolled at least half-time.

Plus Loan - Parent Loan
(Federal Parent Loan for Undergraduate Students)
The Plus Loan is a Federal loan program for parents to borrow for each student who is a dependent and enrolled at least ½ time in a degree program. Refer to the Penn's Student Financial Services Office for further information on Plus Loans.
Current Federal Loan Interest Rates: