Submit a Consortium Agreement. Awarded Federal Perkins loan and grant funds (excluding the Federal Pell Grant) will be paid to you based on your ASU hours only. For federal loan consideration, you must have a combined minimum of six credit hours (undergraduate) or five credit hours (graduate). Consortium agreements assist in receiving additional financial aid, not for the deferment of loans. You may only receive financial aid at one school. If you have a consortium agreement, you are responsible for paying the tuition and fees at the other school and submitting a paid receipt with the Consortium Agreement to ASU's Student Financial Assistance Office.