<p>Not much mystery to the Perkins process at the state U where I used to work. The Perkins fund shrank each year, and that fund was allocated by computer based on parameters set by the aid office management. First, it was awarded based on EFC to the neediest incoming freshmen (first-time-in-a-college). The remaining funds were awarded to returning students based on EFC and date FAFSA was filed. More was awarded than the school actually had, based on a determination of the amount that management expected would go unaccepted (freshmen who went elsewhere or students who declined the loan). In past years, some of the fund was leftover & could be awarded later in the year to those students with compelling need. Last year, however, there wasn’t really any money leftover.</p>