How much will I pay each month?

When your loan goes into repayment, the amount you will be required to pay each month will depend on how much money you borrowed and the length of your repayment period. Most Perkins Loan borrowers must make a minimum payment of at least $40. per month.

Before graduation, you must complete an on-line Perkins Loan exit counseling session to review your financial responsibilities and learn about your repayment agreement. The Perkins Loan Coordinator will contact you by mail at the time you leave BMCC to remind you to complete the on-line exit counseling session.

Is it possible to postpone repayment of my loan?