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Federal Perkins Loan

This is a low-interest loan for students who have financial need. 

IWU is your lender. The loan is made with government funds.

You can learn more about these loans by visiting the Federal Student Aid website

Perkins Loan Information:

Interest Rate

Eligibility Requirements

Dates to Remember


  • Be enrolled at least half-time
  • Be registered with the Selective Service (males only)
  • Be a U.S. citizen, national, or eligible non-citizen
  • Have financial need, as determined by the calculations from information reported on the FAFSA
  • Complete your FAFSA application before November 1
  • Review and respond to your award proposal after January 1 for incoming students or after March 1 for returning students

**This is required only if Perkins Loan is awarded as part of your financial aid proposal.**

Step 1: Accept the Federal Perkins Loan - this can be done either online through your MyIWU account, or by returning a signed copy of your award notice to the Financial Aid Office.

Step 2: Print and complete the Federal Perkins Loan Master Promissory Note. (required for first time borrowers only)

Once completed, please mail the first page of this application to the Financial Aid Office, or turn in to Holmes Hall 1. Faxes and copies are not acceptable as we must have the original signature.

Illinois Wesleyan University
Financial Aid Office
P.O. Box 2900
Bloomington, IL  61702

Step 3:  Complete the online Entrance Interview Application. (required for first time borrowers only)  If you also have a Federal Direct Stafford Loan, we recommend you choose "Direct Loan and Perkins combined entrance" once in the site.


Visit our Loans FAQ.

Allecia Correll - Student Loan Coordinator - Financial Aid

Department - Financial Aid