Perkins Loan Suggestions. Perkins Loan Faqs

Perkins Loan Suggestions. Perkins Loan Faqs

The Perkins Loan workplace handles all aspects of one’s loan once the repayment is begun by you process. You need to contact this workplace as soon as you graduate or fall below half-time at an organization of higher learning. To find out more start to see the faqs below or phone 717-477-1393.

Shippensburg University
1871 Old Principal Drive, Place #112
Shippensburg, PA 17257
Phone: 717-477-1393
Fax: 717-477-4086

What exactly is a Federal Perkins Loan?

A Federal Perkins Loan is really a low-interest (5 %) loan both for undergraduate and graduate students with exemplary economic need. Your college is the lender. The loan is made with government funds by having a share added by the college. You need to repay this loan to your college.

What website do i take advantage of to perform my SU Perkins Loan Master Promissory Note/Entrance Counseling or SU Perkins Loan Exit Interview?

The internet site to accomplish both is http: //www.

A Promissory Note” tab and then the “Shippensburg University of PA” tab and follow the directions on the SU Electronic Promissory Notes page to complete the Master Promissory Note/Entrance Counseling click on the“eSign.

To perform the Exit Interview log in by going into the SU School rule (09) your account number (SS #) and your PIN. (in the event that you don’t understand your pin, click on the “Need help logging in? ” tab. ) Please fill the exit Interview out totally and signal it electronically.

Will there be a payment with this loan?

A Perkins Loan borrower just isn’t charged any costs. Nevertheless, you will have to pay a late charge plus any collection costs if you skip a payment, make a payment late, or make less than a full payment. Belated charges will stay until your repayments are present.

When do we pay off my Perkins Loan?

You have got nine months once you graduate, leave college, or drop below half-time status before you decide to must begin payment. This might be called an elegance duration. During the end of the elegance period, you have to begin repaying your loan. You may be allowed up to ten years to settle your loan.

Who’ll be billing me personally for my Perkins Loan?

The college can directly bill you or make use of billing/servicing business. If you received your loan from Shippensburg University, we make use of billing/servicing business. The organization we utilize is Educational Computer Systems, Inc. (ECSI) positioned in Warrendale, PA. The target is:

Shippensburg University (AC09)
C/O Academic Personal Computers, Inc.
100 Worldwide View Drive
Warrendale, PA 15086

Please use P.O. Box 1278, Wexford, PA 15090 for several documents for education loan servicing, tuition re payment plans, reimbursement disbursements, as well as other items. Usually do not deliver re payments for this target.

Please use P.O. Box 718, Wexford, PA 15090 for several re payments for education loan servicing, tuition payment plans, and delinquent student accounts receivable.

You’ll be able to send your payment directly to Shippensburg University. If you opt to mail the re payment into the college, please spot your number that is SUID and term Perkins into the memo section of the check.

Which workplace handles the Perkins Loan Program once we have actually finished from college or stopped going to college for every other reason?

If you went to Shippensburg University, the scholar Accounts workplace in the Old Main building, Room #112 located at 1871 Old Main Drive is in charge of Perkins Loans. You can also contact ECSI, our Perkins Loan servicer, via your Perkins Loan account at http: //www. call ECSI cost free at 1-888-549-3274.

Am I able to postpone payment of my Federal Perkins Loan?

Yes. Under specific circumstances, you can easily get a deferment or forbearance in your loan. During a deferment, you might be permitted to temporarily postpone re payments for you loan, with no interest accrues. You might get a deferment under particular conditions, such as for instance jobless.

Deferments aren’t automatic. You need to submit an application for one throughout your Shippensburg University by doing a deferment demand type. You need to register your deferment request on time or you’ll pay a charge that is late.

The Shippensburg University Perkins Loan office or ECSI (see ECSI contact information in the previous FAQ) for more details on deferments, contact

If you should be temporarily struggling to satisfy your payment routine but they are perhaps not entitled to a deferment, it is possible to get forbearance for a finite and certain duration. During forbearance, your repayments are reduced or postponed. Interest will continue to accrue; you might be accountable for it.

Forbearance is certainly not automatic either. You might be issued forbearance in 3 to 12 thirty days periods for approximately 3 years. You have to use written down for forbearance through Shippensburg University or ECSI. You’ll have actually to supply paperwork to aid your ask for forbearance. You have to continue making planned re payments unless you are notified that deferment or forbearance happens to be given.

All deferment and forbearance kinds are available via our Perkins Loan servicer’s website at http: //www. and simply clicking the INSTALL FORMS tab check here and scrolling right down to the ECSI Forms.

I contact if I have a change of status, whom should?

You need to contact any office during the college whom handles the payment of your Perkins Loan or their billing/servicing business with any modifications in name, target, cell phone number, Social Security quantity, or driver’s license number. In the event that you received your loan from Shippensburg University, go directly to the ECSI website at http: //www. or call ECSI toll free at 1-888-549-3274.

Can my Federal Perkins Loan be terminated? Could be the loan reported to a Credit Bureau?

Yes, if the debtor dies or becomes completely and permanently disabled, the mortgage could be terminated. That loan can also be eligible for termination under specific other conditions – so long as the debtor just isn’t in standard. To learn more, go directly to the ECSI website at http: //www. call ECSI cost free at 1-888-549-3274.

Yes. Perkins Loan info is reported up to a credit that is national following the initial disbursement of funds.

Extra questions regarding your Federal Perkins Loan?

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