; or (v) any health care practitioner who, as a result of State law, cannot be directly employed by a hospital or other health care facility for the provision of professional medical services, but who works in a public service job at that hospital or other health care facility by virtue of being granted professional privileges or pursuant to a written arrangement for the provision of professional services. . 4065. Federal Direct Perkins Loans terms and conditions Part D of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087a et seq.) is amended by inserting after section 455 the following new section: 455A. Federal Direct Perkins Loans (a) Designation of loans Loans made to borrowers under this section shall be known as Federal Direct Perkins Loans . (b) In general It is the purpose of this section to authorize loans to be awarded by institutions of higher education through agreements established under section 463(f). Unless otherwise specified in this section, all terms and conditions and other requirements applicable to Federal Direct Unsubsidized Stafford loans established under section 455(a)(2)(D) shall apply to loans made pursuant to this section. (c) Eligible borrowers Any student meeting the requirements for student eligibility under section 464(b) (including graduate and professional students as defined in regulations promulgated by the Secretary) shall be eligible to borrow a Federal Direct Perkins Loan, provided the student attends an eligible institution with an agreement with the Secretary under section 463(f), and the institution uses its authority under that agreement to award the student a loan. (d) Loan limits The annual and aggregate limits for loans under this section shall be the same as those established under section 464, and aggregate limits shall include loans made by institutions under agreements under section 463(a). (e) Applicable rates of interest Loans made pursuant to this section shall bear interest, on the unpaid balance of the loan, at the rate of 5 percent per year. .