Federal Perkins Loan
Overview
The Federal Perkins Loan Program provides low interest loans for students with the most financial need.
Description
Federal Perkins loan program is awarded to full-time students demonstrating financial need. Repayment of this loan begins nine (9) months after the student ceases to be enrolled at least half-time (8 credits for Undergraduates and 4 credits for Graduates). There are limited Perkins Loans available, therefore only the most needy students receive these loans. Recipients are selected at the sole discretion of Student Financial Services.
| Undergraduate and Graduate Students | |
|---|---|
| Maximum Loan Amounts | Interest Rate |
| Undergraduate Students: $4,000 Graduate Students: $6,000 | 5.0% |
Eligibility
Federal Perkins Loans are available for students who complete a financial assistance application and are determined eligible by the Office of Student Financial Services. If you have not received a Financial Assistance Statement listing your eligibility for a Perkins Loan please contact the Student Service Center to determine if you qualify.
Process
Before a Perkins Loan can be disbursed to a student account the student must complete a Master Promissory Note, Statement of Rights and Responsibilities, and Entrance Interview. These are completed online through our billing servicers, Educational Computer Systems, Inc. (ECSI).
The student must review the information, successfully pass a quiz regarding the Federal Perkins Loan, and electronically sign the documents before the loan can be disbursed. This is an electronic process; documents are only available for the student to complete as the Federal Perkins Loan is a student loan taken out in the student's name. If a parent or guardian wants to have access to student records regarding the loan the student must submit written permission to the Perkins Loan Coordinator at:
Emerson College
ATTN: Perkins Loan Coordinator
120 Boylston St.
Boston, MA 02116
The Master Promissory Note only needs to be completed one time while you are enrolled at Emerson College. If you are a student and have been notified that you need to complete the Federal Perkins Loan Master Promissory Note, Statement of Rights and Responsibilities, and Entrance Interview please follow the link to our billing servicers, ECSI.
If you have concerns or questions regarding the Federal Perkins Loan please contact the Perkins Loan Coordinator at 617.824.8653.
Emerson College uses Educational Computer Systems, Inc. (ECSI) as billing servicers for the Federal Perkins Loan. ECSI will collect future payments, process deferments, forbearance and cancellations, and answer all questions regarding Perkins Loan billing. For more information on ECSI please visit their website, www.ecsi.net. They can also be reached at 1.888.549.3274.
