[Code of Federal Regulations]

[Title 34, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 34CFR674.12]



[Page 567]

 

                           TITLE 34--EDUCATION

 

 CHAPTER VI--OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION

 

PART 674_FEDERAL PERKINS LOAN PROGRAM--Table of Contents

 

                      Subpart A_General Provisions

 

Sec. 674.12  Loan maximums.



    (a) The maximum annual amount of Federal Perkins Loans and NDSLs an 

eligible student may borrow is--

    (1) $4,000 for a student who is enrolled in a program of 

undergraduate education; and

    (2) $6,000 for a graduate or professional student.

    (b) The aggregate unpaid principal amount of all Federal Perkins 

Loans and NDSLs received by an eligible student may not exceed--

    (1) $20,000 for a student who has successfully completed two years 

of a program leading to a bachelor's degree but who has not received the 

degree;

    (2) $40,000 for a graduate or professional student; and

    (3) $8,000 for any other student.

    (c) The maximum annual amounts described in paragraph (a) of this 

section and the aggregate maximum amounts described in paragraph (b) of 

this section may be exceeded by 20 percent if the student is engaged in 

a program of study abroad that is approved for credit by the home 

institution at which the student is enrolled and that has reasonable 

costs in excess of the home institution's cost of attendance.

    (d) For each student, the maximum annual amounts described in 

paragraphs (a) and (c) of this section, and the aggregate maximum 

amounts described in paragraphs (b) and (c) of this section, include any 

amounts borrowed previously by the student under title IV, part E of the 

HEA at any institution.



(Authority: 20 U.S.C. 1087dd)



[59 FR 61407, Nov. 30, 1994, as amended at 64 FR 58309, Oct. 28, 1999]