The Perkins Loan Program ended September 30, 2017. Servicing Companies. The Perkins Loan Program has expired. And although Loyola is the lender, we have contracted with ECSI (Educational Computer Systems, Inc) to assist us in servicing our Perkins loans.. A Perkins loan is a type of federal student loan based on financial need. If you are having trouble making your student loan payments or tuition and fee payments, ECSI can Students attending any one of approximately 1,700 participating postsecondary Use the Perkins Loan Assignment System page to access and manage the Perkins loans that are in the process of being assigned to FSA. The FAFSA can be completed on the Web at http://www.fafsa.ed.gov. A Federal Perkins Loan is a low-interest loan for both undergraduate and graduate students. Outsourcing Company. Perkins loans are available to undergraduate, graduate, and professional students. Therefore, no interest rate freeze will apply to your student loan(s). These final regulations are intended to improve collections in the Perkins Loan Program by providing greater flexibility in the process of assigning defaulted Perkins loans to … Learn more about how to protect yourself from fraud. The length of repayment is determined by the total amount borrowed, the interest rate, and the repayment amount. Explore our help center to see important information Please note this is not for past due student loan payments. Dismiss It is interest-free as long as the student is enrolled at least half time at any eligible institution. The Federal Perkins Loan Program provides assistance to qualifying students who can demonstrate financial need and who are seeking a higher degree through an approved postsecondary school. The Perkins Loan Program is the oldest federally supported student aid program. Terms of Use Federal Direct Consolidation Loan Request to Add Loans Instructions for Completing Federal Direct Consolidation Loan Request to Add Loans Form For Members of the U.S. Armed Forces - What you need to know about your federal student loan benefits. help point you in the right direction from loan entitlements to payment plans. Not sure what to expect with your student loans? On Aug. 8, 2020, President Trump directed the Secretary of Education to extend the 0% student loan interest rate and suspension of payments on federal student loans owned by the Department of Education until Dec. 31, 2020. Program Type: Formula Grants, Loans In comparison, the interest rates for Direct Loans are currently 5.05% for undergraduates students and 6.6% for graduate or professional students . Understand the different payment options that are available when making a payment on your account and Federal Perkins Loans have a maximum ten-year repayment period. For your security, please do not give these out. the benefits of those payment option. Under federal law, the authority for schools to make new Perkins Loans ended on Sept. 30, 2017, and final disbursements were permitted through June 30, 2018. Welcome to the Perkins Loan Office The Federal Perkins Student loan program is a campus-based loan program, which means Loyola is the lender. Campus Federal will never contact you via text message, email or phone to ask for your account number, password, PIN number or 3-digit security code. If you need an option for payment your tuition without taking out student loans, click here to learn If you are getting a refund from your school for TItle IV funds, click here to learn about your If you have any questions regarding your Federal Perkins Loan or the exit counseling, please feel free to contact ECSI at (888) 549-3274. The Federal Perkins Loan program has expired as of 9/30/17. A Perkins loan is a need-based student loan that had a fixed interest rate of 5% on a 10-year repayment period. © The Federal Perkins Loan Program offers low-interest subsidized federal student loans for both undergraduate and graduate students with exceptional financial need. The Perkins Loan is … Learn more about our one-time payment and payment plan options for your past due or unpaid tuition and fees. Perkins Loan: A loan program that provides low-interest student loans to undergraduate and graduate students who demonstrate exceptional financial need. Also Known As: Formerly National Defense Student Loans, National Direct Student Loan, and Perkins Loan Program. To access your Perkins loan account online: https://loanservices.apps.uwec.edu. New loans are not available at this time. Federal Perkins Loans. You must be a citizen of the United States or have been admitted into the United States as a permanent resident, refugee or asylee. certain statutory loan cancellation provisions. A Federal Perkins Loan is a low-interest (5 percent) loan for eligible undergraduate and graduate students with exceptional financial need. Use the Perkins Loan Assignment System page to access and manage the Perkins loans that are in the process of being assigned to FSA. Repayment of the principal plus 5% interest begins 9 months after graduation or when you leave the university. The loan is made with government funds, and your school contributes a share. about the payment Review your promissory note(s), addendum(s), or the Exit Repayment Agreement for your specific repayment terms. The program offers low interest rates to students with exceptional financial need (as determined by the results of the FAFSA) at higher education institutions through campus revolving funds. For more information on the student aid award process, see the Federal Pell Grant Program (# 84.063, also under topical heading Federal Student Aid). The loan is made from federal government funds and SDSU funds. The Perkins loan was subsidized by the federal … From the start of your loan to your final payment, we’re committed to help simplify the process of managing and repaying your student loan. A borrower who has difficulty repaying a Perkins Loan should contact the school where he or she received the loan to find out if he or she is eligible for a deferment or forbearance based on economic hardship or other circumstances. plan options that your school offers and how they work. Students must file a Free Application for Federal Student Aid (FAFSA) as part of the application process for a Perkins Loan. Federal Perkins Student Loans are low interest loan in which your college serves as the lender. Students also will need to complete a Perkins promissory note in order to receive a loan. View your federal loan status. Student Loan Billing. If your loan is in repayment and you are unable to make payments due to the federal … The interest rate for a Perkins loan is 5%. Federal Perkins Loan Exit CounselingYou will receive an exit packet in the mail after you graduate, leave school, or drop below halftime enrollment. Want to make a payment on an account without signing in? Customize your experience: Create a one-time payment or recurring payments, create … If you have any questions, please contact the Billing and Receivables Office at 309-298-1295 or email BRPerkins@wiu.edu. refund account options, select a refund disbursement method, and more. Note: As of September 2017, schools are no longer authorized to make new Perkins Loans. Residency and Citizenship. Students attending any one of approximately 1,700 participating postsecondary institutions can obtain Perkins loans from the school. The office is open Monday through Friday, 8am-4:30pm. institutions can obtain Perkins loans from the school. The Student Loans Staff in the Bursar’s Office is primarily responsible for collecting all Federal Perkins Loans. Federal Perkins Loans. To view Federal Perkins Loan (Perkins Loan) Program publications for archived years, click here. If you are having trouble making your student loan payments or tuition and fee payments, ECSI can help point you in the right direction from loan entitlements to payment plans. Simply follow these directions to access your account. For information about repaying your previously-borrowed Perkins Loan, please contact Temple University’s Credit and Collections Department. https://nmlsconsumeraccess.org/. For assistance accessing your account contact loans@uwec.edu or 715-836-4324. If you are accessing your student loan(s) through this website, your loan is NOT directly held by the Department of Education. With low fixed interest rates and manageable repayment terms, Perkins Loans allow needy students to finance the rising costs of a higher education. SDSU is the lender on the Perkins Loan. The school's revolving Perkins loan fund is replenished by ongoing activities, such as collections by the school on outstanding Perkins loans made by the school and reimbursements from the Department for the cost of questions about 1098 tax documents. - Privacy Statement Please note this is not for past due student loan payments. The interest rate is 5% per year on the unpaid balance and SJSU is your lender. CFDA Number: 84.038 A Federal Perkins Loan, or Perkins Loan, is a need-based student loan part of the Federal Direct Student Loan Program, offered by the U.S. Department of Education to assist American college students in funding their post-secondary education.The program is named after Carl D. Perkins, a former member of the U.S. House of Representatives from Kentucky. Billing Partner. Perkins Loan allocations are made to eligible institutions for the purpose of providing low-interest loans to needy undergraduate and graduate students attending eligible institutions. The Federal Perkins Loan Program provides lowinterest loans to help needy students finance the costs of postsecondary education. Please note that your diploma, grades and transcripts will be held until this requirement is met. Loan Billing. Perkins Loan Exit Interview. that will help you navigate while you are in-school through repayment. A $40 minimum monthly payment is required. As a result, students can no longer receive Perkins Loans. While other federal loan rates are tied to the 10-year treasury note, the Perkins Loan interest rate was fixed at 5% for all loans. The Secretary amends the Federal Perkins Loan (Perkins Loan) Program regulations. PLAS Are you a Perkins Loan School? The Federal Perkins Loan is a need-based student loan that is contingent on the availability of funds at the time of awarding. Simply enter or look up the Account Key and Educational Computer Systems, Inc., NMLS ID 1489841, NMLS Consumer Access: 1) Open Internet Explorer and go to myloan.gvsu.edu The Federal Perkins Loan Program provides lowinterest loans to help needy students finance the costs A forbearance can help, by temporarily postponing your loan payments for up to 90 days. Grand Valley State University Long Term Loan Office - 1049 JHZ Allendale, MI 49401. of postsecondary education. A Federal Perkins Student Loan (formerly called NDSL) is for both undergraduate and credential students with exceptional financial need. What is a Federal Perkins Loan? - Site Map. The Student Loan Interest Freeze only applies to loans that are directly held by the Department of Education. Repay Perkins loans to your school. Student Eligibility Students may defer repayment of the loan while enrolled (at least half-time) at a postsecondary school. We know there are challenges ahead that may affect your ability to make your Federal Perkins student loan payments. Look up your 1098-T or 1098-E tax document, view or print your form, or review the frequently asked Perkins borrowers are eligible for loan cancellation for teacher service at low-income schools and under certain other circumstances specified in the law (HEA). Helping student loan borrowers for almost 50 years. set up a one-time payment in a few simple steps. The extension will be automatically applied to your account. Student Loans. If you have questions, please contact us directly at (616) 331-3234 or finaid@gvsu.edu. document.write(new Date().getFullYear()) Educational Computer Systems, Inc. All rights reserved. If you would like to take advantage of the loan interest freeze benefit and currently have a Federal Perkins loan serviced by the University of Texas at Austin, you may consolidate your Federal Perkins Loan into a Direct Consolidation Loan held by the Department of Education. Your school is the lender. A Perkins loan is a subsidized loan, meaning that the federal government pays the loan’s interest while you are in school. Federal Perkins Student Loan Electronic Signature GO >> Manage Your Title IV Refund. The Federal Perkins Loan Office at Western Illinois University is located in Sherman Hall 106. Federal Perkins Loan Borrowers impacted by COVID-19: The 0% interest rate mandated by the U.S. Department of Education does not apply to federal student loans that are serviced at the school-level, such as your Perkins Loan. Start here to learn how to register for a user profile, find your account key, connect an account to your user profile, and more.