651-696-6866 (fax )
1600 Grand Avenue
St. Paul, MN
The Admissions and Financial Aid Offices are located at 62 Macalester Street.
The Federal Perkins Loan Program has expired as of October 1, 2105.
If your Federal Perkins Loan has not yet disbursed for the 2015-2016 academic year, you may not be eligible to borrow the Federal Perkins Loan. In order to qualify for future Perkins Loan disbursments, the following grandfathering provisions must apply:
- Macalester made at least one Perkins Loan disbursement to you on or before June 30, 2015. In other words, if this is your first year borrowing the Perkins Loan, you will not be eligible for the loan in 2016-2017.
- You must have received your last Perkins Loan disbursement at Macalester. In other words, if you have transferred to Macalester and received a Perkins Loan at a different institutiion, you are not eligible for subsequent disbursements of the loan.
- You need to be enrolled in the same academic program for which you received your last Perkins Loan disbursement. In other words, if you have changed majors since your last Perkins Loan disbursement, you are not eligible for subsequent disbursements of the loan.
Some financial aid packages include Federal Perkins Loans. The amount you are eligible for is determined by Macalester. Perkins Loans are originated and administered by Macalester. Perkins loans are:
- Awarded to the neediest financial aid applicants.
- No credit check required.
- No payments are required while half-time enrollment is maintained.
- Payments begin nine months following graduation or withdrawal from Macalester.
- No interest accrues while you are enrolled.
- Interest rate during repayment is fixed at 5%.
- Standard repayment period is ten years.
- Federal Perkins Loan promissory notes will be signed in person during the early part of the fall semester.
There are three steps to securing your Federal Perkins Loan:
- Accept all or part of your Federal Perkins Loan on 1600grand.macalester.edu (under the Student Life tab).
- Complete the Perkins Loan Application.
- Attend an Entrance Interview and Perkins Loan Promissory Note Signing Session.