Perkins loans are an older type of federal loan that haven’t been issued since September 30, 2017. They were based on financial need and were issued for both undergraduate and graduate students.
Borrowers with Perkins loans must consolidate these loans and have the new Direct Consolidation Loan disbursed by June 30, 2026, to maintain access to the legacy IDR plans, PSLF or IDR Forgiveness. Federal Student Aid (FSA) recommends submitting a consolidation application by the end of March 2026 to ensure the new Direct Consolidation Loan is disbursed by June 30th.
Perkins loans have their own cancellation program that applies to public service professionals such as teachers, law enforcement officers, firefighters, nurses, and more. You can read about the requirements and forgiveness timeline at Federal Student Aid.