Perkins Student Loans

Perkins Student Loans

2 min read


I am currently enrolled in Perkins loans, but i’m not sure if I want to take them out yet since my payments are going to be around $500 per month! Is it worth keeping? What should I do?

Perkins Student Loans

Description: “Perkins student loans are available if you’re attending school at Perkins Technical College.”

Perkins Student Loans

The Perkins Loan program was created after World War II to help students who had lost their jobs due to the war. Since then, the loan program has grown to become one of the largest student loan programs in the US. Over $1 billion in private debt is held by approximately 1 million people. It is known as one of the best federal student loans out there today because of its low interest rate (the lowest at 5%) and flexible repayment options. However, its reputation took a hit when it was discovered that a number of schools were not informing students about the true cost of attending school. There have been many calls for regulation and reform.

Perkins Student Loans

Description: “The National Association of Colleges and Employers (NACE) reports that over 70% of students graduate with student loan debt. And the average amount of debt a Perkins Loan borrower graduates with is almost $23,000. In fact, according to recent data from the Department of Education, over 1.5 million borrowers now have Perkins loans.”

Description: Perkins Loans are a great way to finance student loans! I’m currently working on my Bachelor’s degree at Texas A&M University and I have about $60,000 worth of debt…not too bad 😉 So I wanted to try and get some extra money to pay off my debt and make my loan payments more affordable.

My name is Ryan Moseley (Social Media Intern) and I’ll be showing you how we were able to refinance our Perkins Loan using LendKey. We first met with our school counselor to go over different financing options. She suggested that we look into refinancing since she thought it might lower our interest rate and save us some money. We then began researching different lenders that would work with us and they eventually recommended that we use Lendkey.

Lendkey was really easy to use digital platform that allowed us to apply for a personal loan online. My wife and I both applied separately, we never had to leave our house, and neither of us felt pressure to rush into making a decision. After just 2 weeks, we received notification that our loan was approved and we could start sending them the funds immediately.

If you’re interested in trying out Lendkey, here are their terms:

First time users: Get $200

Refi customers: Get up to 5% cash back on select purchases

The best thing about LendKey is that they offer free credit scores and reports, and a quick approval process. If you want to learn more about LendKey, visit their website below:

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