<p>In practice, schools give out Perkins loans in many different ways. THe loans are supposed to go to the neediest students, but this does not seem to be enforced. Also some colleges will fund their neediest students with their own grants, still have Perkins funds, so the money can end up going to non Pell kids at that school rather than Pell kids. I’ve yet to get any rhyme or reason as to how these loans work. Not all schools have them, they have varying amounts of them, and students have gotten them some years and not others. Unlike PELL and the Direct Loans (staffords) HEOG and Perkins are not guaranteed, and most schools do not have them to give out. You cannot count on getting a Perkins loan.</p>