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As a student, the positive benefits of Perkins loans are hard to ignore. A Perkins loan is a unique option for federal student loans that provides a low-interest rate for undergraduate students. It provides students with the opportunity to borrow money for educational expenses, with the advantage of much lower interest rates than other student loan options. Here are some of the positive benefits of taking out a Perkins loan.

1. Low Interest Rates: As a federal loan, Perkins loans offer low and fixed interest rates of 5%. Interest rates for Perkins loans are much lower than those of other student loan options, making them an attractive choice for students looking to save money on their student loan payments.

2. No Credit Check: Perkins loans do not require a credit check for approval, so students with less than stellar credit can still qualify for the loan. This is a major benefit, since other student loan options typically require a credit check in order for approval.

3. Loan Forgiveness: Interested students can benefit from Perkins loan forgiveness after a certain number of years. Depending on the program, students may be eligible to have their Perkins loan forgiven, which could save thousands of dollars in the long-term.

4. Flexible Borrowing: Perkins loans offer flexible borrowing limits which could be beneficial for students who are attending high-cost schools or with a higher cost of living. In addition, Perkins loans allow students to take out more money for college than other student loan options.

By taking advantage of a Perkins loan, students can benefit from low interest rates, no credit check requirements, loan forgiveness, and flexible borrowing. These are just a few of the positive benefits of taking out a Perkins loan, which makes it an attractive option for students in need of additional financial assistance for college.