<p>My Chicago aid package includes a small Perkins loan ($1725) in addition to grant money/Stafford loans, and I was wondering--how is that amount calculated? (I'm assuming they don't just pull it out of a hat.) Can I expect it to go up in future years, as the Stafford loans do, or will it stay around the same?</p>
<p>I think my projected debt load is manageable as is but that's assuming the $1725 doesn't increase significantly. Eep.</p>
<p>It shouldn’t increase.</p>
<p>All right, thanks, that’s good to hear.</p>
<p>Your Stafford loans could increase each year.</p>
<p>Frosh $5500
Soph $6500
Jr…$7500
Sr…$7500</p>
<p>No one here can tell you whether your Perkins will or will not increase. It depends on factors we have no knowledge of such as your need, your school’s policies for awarding Perkins, and how much funding the school has to offer in the form of Perkins loans (Perkins loans have limited funding). </p>
<p>My daughter’s Perkins loans have varied every year.</p>