All students are obligated to repay their Federal Perkins Loan in accordance with the terms of their signed promissory note. To request a copy of your promissory note, please contact CBU's Title IV Funds Coordinator at 951-343-4406.
The Federal Perkins Loan is separate from any other federal/non-federal loans borrowed while attending school. Per Federal regulations, each Perkins disbursement is reported to a national credit bureau organization as an educational loan from California Baptist University.
The principal, interest rate and repayment schedule are determined by the Truth in Lending Statement (provided during exit interview) and the Statement of Funds Borrowed (signed at the time of loan acceptance). Upon graduating, leaving the university, or dropping below half-time enrollment, students are entitled to a 9-month grace period. Repayment begins 9-months after leaving school. Interest begins to accrue after the grace period.
Students can prepay all or part of their loan at anytime without penalty.