The Perkins Loan is a low interest (five percent) federally funded loan program for students who demonstrate exceptional financial need.  The Department of Education determines the amount of Perkins loan funding that Buffalo State will receive each academic year.  Students will be considered for this loan based on eligibility and the funds available at the time that a valid FAFSA is received.  If a student is eligible to receive a Perkins loan, it will be included in their award package; no additional application is necessary.

Federal Eligibility Requirements

  • Must have a valid FAFSA on file
  • Must be a U.S. citizen or eligible noncitizen
  • Accepted as a regular student working toward a degree or eligible certificate program (undergraduate or graduate level)
  • Must demonstrate financial need using the student's Cost of Attendance minus their EFC and other financial aid
  • Attending at least half-time (6.0 credit hours per semester)
  • Maintain satisfactory progress toward a degree per the policies of the college
  • Cannot be in default on any other federal loan
  • Cannot owe a refund on a federal student grant or loan

How Perkins Loan Funds are Awarded to Buffalo State Students

   Undergraduate Students
  • EFC below $10,001
  • FAFSA Priority Filing Deadline: March 1st of each year
  • $2,000 annually ($1,000/semester) for in-state students who reside on-campus (e.g.: room charges exist on the student's bill; this is internally verified after add/drop week of each semester).
  • $4,000 annually ($2,000/semester) for out-of-state  students regardless of where they reside
  • National Student Exchange/Study Abroad Programs awarded on case-by-case basis
   Graduate Students
  • EFC below $10,001
  • FAFSA Priority Filing Deadline: March 1st of each year
  • $2,000 annually ($1,000/semester) regardless of where they reside

Accepting the Perkins Loan and Completing the Master Promissory Note

Perkins Lifetime Borrowing Limits (at all schools)
  • Undergraduate Limit: $27,500
  • Graduate Limit: $60,000

How the Perkins Loan is Disbursed
  • Perkins loan funds are disbursed directly to the student's account to apply to tuition, fees, room and board and any other school charges
  • If any loan funds remain after all school charges are paid for, the student will receive a refund for the excess amount to help the student with other educational expenses.


Students enter repayment on Perkins Loans nine (9) months after they cease half-time enrollment or graduate, whichever happens sooner.  Students can monitor their federal student loan debt (Perkins and Direct Loans) by using the National Student Loan Database System (NSLDS).  Students log in using the same credentials used for the FAFSA.

Exit Counseling

Students that borrowed Perkins Loans funds at Buffalo State must complete exit counseling when they depart from the college or drop-below half-time attendance (six credit hours). Students will be contacted by SUNY Student Loan Service Center (SLSC)instructing them how to complete the online Perkins exit counseling.  Students may contact SLSC at (518) 525-2626 or with any questions.