When funds are available, the College awards Federal Perkins Loans from federal funds allocated to Bryn Mawr. Awards range from $500 to $6,000 per year and are based on financial eligibility. Upon receipt of the award letter, the student must log on to bionic.brynmawr.edu to accept, reduce or decline the Federal Perkins Loan. The first year a student receives a Perkins Loan, the student must complete a Perkins Loan Master Promissory Note and complete a Perkins Loan Entrance Interview in order for the Perkins Loan funds to be credited to the student’s account. The student may satisfy the Perkins Loan Entrance Interview requirement by logging on to www.brynmawr.edu/controller/studentaccounts. Under Student Account Related Links, click on Perkins Loan Entrance Interview. The interest rate on the Perkins Loan is 5% and interest does not accrue until repayment begins. Loan repayment is deferred if you attend school at least half-time. Repayment begins nine months after graduation, withdrawal from the College or dropping below half-time status. Students must complete a Perkins Loan Exit Interview before graduating or dropping to less than half-time enrollment. To satisfy this requirement, the student must log on to www.brynmawr.edu/controller/ studentaccounts under Student Account Related Links, click on Perkins Loan Exit Interview. Repayment for students attending less than half-time is based on prior outstanding Perkins Loans. If you have an outstanding Perkins, you must begin repayment of the new loan when the next scheduled installment is due on the outstanding Perkins Loan. If no prior loan exists, repayment begins nine months from the date the student ceases to be enrolled on at least a half-time basis. The program also offers various discharge/cancelation provisions for certain types of services performed after graduation (e.g. teaching, public service, service in Peace Corp, AmeriCorps, or the military).