<p>The unpredictability of who gets what in the PERKINs is pretty clear in the model that Kelsmom gives. The pool of who is eligible changes since the incoming freshmen get first go at the money, and even those who got money the year before are not first in line anymore because of that. Throw in diminishing funds each year, and it’s really up in the air whether you get the money or not.</p>
<p>I have seen non PELL kids get PERKINS loans offered while PELL kids did not. I know some kids who cannot possibly be the neediest in the lot get PERKINs, specifically from Connecticut College. It is possible that a school gives PELL kids or the truly neediest enough grants in the package so that the need level is bumped up. There are schools that do not give loans in packages to students from families making below a threshhold.</p>