College of Arts & Sciences

Federal Perkins Loan

Due to limited Perkins funding, not all Bethel students will have the opportunity to borrow a Perkins Loan. Students that were awarded Perkins Loan eligibility but who do not complete the Perkins Loan application process by July 1 may have their Perkins eligibility reduced or cancelled.

How to Apply Online

(Students without internet access should contact the financial aid office at 651.638.6241.)

1. Entrance Counseling: First-time Perkins borrowers must complete the online Perkins Loan Entrance Counseling (at the Mapping Your Future website) by July 1.

   

   
   

2. Promissory Note: First-time Perkins borrowers must complete a Federal Perkins Loan Master Promissory Note (PDF format). Students should print, sign, and mail the Perkins Promissory Note to the Office of University Financial Aid, Bethel University, 3900 Bethel Drive, St. Paul, MN 55112. Facsimiles of a promissory note are not acceptable. Repeat Perkins borrowers do not need to complete a new Perkins Promissory Note.
   
   

3. Request Loan Amount: You may request your Perkins Loan amount online via BLink. Students should complete this process by July 1 to prevent losing their Perkins eligibility.
   

   

   
   

   • Use button above to log in to BLink at blink.bethel.edu
   • Choose the Student Services tab and click the Financial Aid Awards link within the Financial Aid Awards channel.
   • Select Academic Year 2009-2010 from the dropdown list.
     
   • Click the Accept Award Offer tab, decide how much of your Perkins Loan you wish to borrow and follow the instructions on the screen.
   • Click the Submit Decision button to save your request.

   If you prefer not to accept your loan online, you may complete and return the Financial Aid Loan Response Form (received with your Award Letter), alerting the financial aid office how much Perkins Loan you wish to borrow.
   

Interest Rate

• 5% fixed interest

Loan Fees

None.

Features

• Loan entrance and exit counseling is required.
  
• Interest charges begin when student enters repayment, nine months after graduating or dropping below half-time student status.
• Minimum payment is $40/month.
• Perkins is a need-based loan.
• Due to limited Perkins loan funds, priority is given to freshmen and sophomores who meet the April 15 financial aid application deadline.
  
• Bethel awards eligible freshmen up to $2,000 and sophomores up to $1,000 of Perkins Loan.