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 Federal Perkins Loan 

 

SPOTLIGHT

Federal Perkins Loan - 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).

Awards from this federal loan program range based on need. Repayment of this loan to SRU 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. Certain loan cancellation and deferment benefits for certain borrowers are available. Specific information about these provisions can be found on the Federal Student Aid Website (click on the "Repaying" tab).

Students who are awarded a Federal Perkins Loan will be required to sign a Perkins Loan Master Promissory Note.  Student borrowers will be notified by SRU's Office of Student Accounts when it is time to sign the note, and they will receive directions to go to the website of our Perkin's Loan Servicer, ECSI.   Once on that site, students will click on the "Are You a Student" tab, and then "eSign a Promissory Note" link.

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.