|Grace period||9 months|
|Grace period interest rate||0%|
|Maximum term||120 months|
|Interest rate after grace period||5%|
Once you leave APSU, you will have a nine-month grace period during which no interest will accrue on your Perkins Loan. At the end of the grace period, you will have a maximum of 10 years (120 months) to pay off your Perkins Loan. During repayment, interest on your principal balance will accrue. The current interest rate is listed above.