What are the advantages of a Perkins loan?
*Updated Perkins loans have a low fixed interest rate, so the size of your payment won’t rise if interest rates rise. They also offer free insurance, so the debt will be canceled if the student dies or becomes disabled. Perkins borrowers can also get their payment deferred if they get into financial trouble. And some of those who plan on entering public service can have their employers pay off their Perkins loans for them.
