The Federal Perkins Loan Program is a need-based loan for students who demonstrate exceptional financial need. Eligible students are automatically awarded loans from this program based upon the results from the Free Application for Federal Student Aid (FAFSA).
- Funding is extremely limited and eligible students will be notified on their financial aid award letter.
- Repayment of this loan begins nine months after the student ceases to be enrolled on at least a half-time basis.
- During the repayment period, the student will be charged five percent interest on the unpaid balance of the loan principal.
- Loan cancellation and deferment benefits for some borrowers may be available. Specific information about these provisions can be found on the federal student aid webpage (click on the "Repaying Your Loans" link).
- Students who are awarded a Federal Perkins Loan will be required to sign a Perkins Loan Master Promissory Note.
Perkins Loan Master Promissory Note and MPN Instructions:
- Approximately one week after you accept your Perkins Loan on MySRU, you will receive an email notification from ECSI, the servicer of the Perkins Loan, letting you know your MPN is available to eSIGN.
- You will be directed to go to ECSI's website.
- At that site you will click on the "Student" tab (you do not need to log in).
- Select "eSIGN A PROMISSORY NOTE".
- Select "SRU", then follow the appropriate directions.
- SRU will be notified by ECSI of your signed MPN within one week.
QUESTIONS about the Perkins Loan Master Promissory Note should be directed to SRU's Perkins Loan Office at 724-738-2064 or the Office of Student Accounts at 724-738-2088.
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Contact Information |
1 Morrow Way
Slippery Rock PA 16057 |
107 Maltby Center |
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724.738.2044
724.738.2922 (fax) |
Financial.aid@sru.edu |
M-F: 8:00-4:30
Summer: 8:00-4:00 |