Perkins Loans for Felons

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Felons who would like to go to college may need assistance paying for their education. One of the options that felons often seek information about are Perkins Loans, which are government-funded educational loans. By obtaining loans you may be able to afford going to college, which will usually help you obtain a better job once you graduate. A college education will also often open more doors, so that you have new options as to the type of work you would like to engage in.

Perkins Loans were popular for many years. While people still seek information about them, they are no longer available. The government stopped giving out Perkins Loans as of September 30, 2017. It has been years since Perkins Loans were given out, but many people who received them still owe on them, and others are not aware that the program ended.

Perkins Loans were loans to attend college that were given out by the federal government for years. The loans were low interest, and provided people with a way to attend college and then be able to pay on the loans once they were done. The loans offered a grace period before people would need to start paying them back to the government.

Although Perkins Loans are longer being given out by the federal government, there are low interest student loans that are still available through the government.

Federal Grants for Felons

Felons who would like assistance paying for college classes will find that there are several options available. You can take out private loans through financial institutions and banks, but those are usually the most expensive route. Those places charge a higher interest rate and may even make it more difficult to obtain the loan. There are better options for most felons to consider.

The first option to consider is called Pell Grants. These are grants that are given to felons who have a low income. The grants pay for college tuition. The nice thing about Pell Grants from the federal government is that they never have to be paid back. They are considered to be gifts to help you pay for college.

Pell Grants are available to felons who meet the low income requirements. Plus, you have to be a citizen or legal alien to qualify for them. Additionally, not every felon can be approved for a Pell Grant. Whether or not you can qualify for one as a felon comes down to the type of crime that you were charged with. Some felons are able to receive federal Pell Grants to pay for their college education.

Federal Loans for Felons

The federal government gives out student loans to felons who would like to go to college. Just like with Perkins Loans, the federal student loans they currently offer are also low interest. They are given out to pay for the college tuition and fees, and then you will have a period of time that you will need to pay on them until they are paid in full.

Student loans do not have to be paid on until you have finished going to college. This does not mean until you graduate, but if you stop attending college as well. If you go for a year and decide you are not going to graduate then in around six month’s time your loan will be due. You will have to start making payments on the student loan six months after graduation or dropping out of college.

Student loans to attend college are given out based on one’s income. Depending on what your income level is you may qualify for a loan that provides you with enough money to pay for all or part of your tuition. You will need to re-apply for the student loan each year that you need it and are continuing to go to college.

Paying for College

While Perkins Loans for felons is no longer available, you do have other options. If you want to go to college you can either see if you qualify for a Pell Grant to get the education for free, or take out a low interest loan that you will need to pay back. Both options are available. Your income level largely is what is used to determine whether you qualify for a Pell Grant or a loan.

To get more information about obtaining a Pell Grant that will not have to pay back, click here.

To get more information about federal student loans that are low interest and will need to be paid back, click here.

To learn more about the Perkins Loan program that has been discontinued, click here.

Both options provide felons with resources to help pay for college. Without these resources college would not be possible for some people. Taking advantage of federal programs to pay for college tuition is a great way to be able to earn a degree and have a new career.