Perkins Loan Ideas. Perkins Loan Frequently Asked Questions

The Perkins Loan workplace handles all aspects of the loan once the repayment is begun by you procedure. You really need to contact this working workplace when you graduate or fall below half-time at an institution of greater learning. To find out more start to see the faqs below or phone 717-477-1393.

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

What exactly is a Federal Perkins Loan?

A Federal Perkins Loan is just a low-interest (5 percent) loan both for undergraduate and graduate pupils with excellent economic need. Your college is the loan provider. The loan is produced with federal government funds by having a share added by the institution. You have to repay this loan to your college.

What internet site do i personally use to perform my SU Perkins Loan Master Promissory Note/Entrance Counseling or SU Perkins Loan Exit Interview?

The web site to complete both is http: //www.

To complete the Master Promissory Note/Entrance Counseling click the “eSign a Promissory Note” tab after which the “Shippensburg University of PA” tab and stick to the guidelines regarding the SU Electronic Promissory Notes page.

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

Can there be a cost because of this loan?

A Perkins Loan debtor is certainly not charged any costs. However, 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. Late charges will stay until your instalments are present.

Whenever 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 start payment. That is called an elegance duration. In the end of the elegance period, you need to start repaying your loan. You may be allowed as much as a decade to settle your loan.

Who can be billing me personally for my Perkins Loan?

The institution can bill you straight or make use of a billing/servicing business. We use a billing/servicing company if you received your loan from Shippensburg University. The company we utilize is Educational Computer Systems, Inc. (ECSI) situated 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 many paperwork for education loan servicing, tuition re re payment plans, reimbursement disbursements, as well as other services and products. Never deliver payments to the target.

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

You may deliver your re payment straight to Shippensburg University. If you choose to mail the payment to your school, please spot your SUID number while the word Perkins into the memo part of the check.

Which office handles the Perkins Loan Program once we have actually finished from school or stopped school that is attending any kind of reason?

In the event that you went to Shippensburg University, the scholar Accounts workplace into the Old Main building, Room #112 situated at 1871 Old Main Drive accounts for 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.

May I postpone payment of my Federal Perkins Loan?

Yes. Under particular circumstances, you are able to get a deferment or forbearance on the loan. Within a deferment, you may be permitted to temporarily postpone re payments for you loan, with no interest accrues. You might get a deferment under specific conditions, such as for example jobless.

Deferments aren’t automatic. You need to submit an application for one during your Shippensburg University by doing a deferment demand kind. You have to register your deferment demand on time or you’ll pay a belated fee.

For more details on deferments, contact the Shippensburg University Perkins Loan office or ECSI (see ECSI email address in the earlier FAQ)

You can receive forbearance for a limited and specific period if you are temporarily unable to meet your repayment schedule but are not eligible for a deferment. During forbearance, your instalments are postponed or reduced. Interest continues to accrue; you will be in charge of it.

Forbearance just isn’t automated either. Perhaps you are provided forbearance in 3 to 12 intervals for up to three years month. You have to use on paper for forbearance through Shippensburg University or ECSI. You’ll have actually to present paperwork to aid your ask for forbearance. You have to carry on making planned re payments unless you are notified that deferment or forbearance is awarded.

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

If We have a big change of status, who can I contact?

You need to contact any office during the school whom handles the payment of your Perkins Loan or any changes to their billing/servicing company in title, address, telephone number, Social Security quantity, or driver’s license quantity. In the event that you received your loan from Shippensburg University, go right to the ECSI website at http: //www. or call ECSI cost free at 1-888-549-3274.

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

Yes, if the borrower dies or becomes completely and permanently disabled, the mortgage may be terminated. That loan can qualify for cancellation also under certain other conditions – so long as the debtor is certainly not in standard. To learn more, go directly to the ECSI site at http: //www. call ECSI cost free at 1-888-549-3274.

Yes. Perkins Loan info is reported to a nationwide credit bureau after the initial disbursement of funds.

Extra questions regarding your Federal Perkins Loan?