Perkins Loan Suggestions. Perkins Loan Faqs

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Perkins Loan Suggestions. Perkins Loan Faqs

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Perkins Loan Suggestions. Perkins Loan Faqs

The Perkins Loan workplace handles every aspect of the loan once you start the payment procedure. You need to contact this working workplace when you graduate or fall below half-time at an organization of greater learning. To find out more begin to see the Frequently Asked Questions below or phone 717-477-1393.

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

What exactly is a Federal Perkins Loan?

A Federal Perkins Loan is a low-interest (5 per cent) loan both for undergraduate and graduate pupils with exemplary need that is financial. Your college can be your lender. The mortgage is manufactured with federal government funds having a share added by the college. You have to repay this loan to your college.

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

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

To perform the Master Promissory Note/Entrance Counseling click the “eSign a Promissory Note” tab after which the “Shippensburg University of PA” tab and proceed with the instructions in the SU Electronic Promissory Notes page.

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

Can there be a cost for this loan?

A Perkins Loan debtor is certainly not 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 fees will stay until your instalments are present.

Whenever do we repay my Perkins Loan?

You’ve got nine months before you must begin repayment after you graduate, leave school, or drop below half-time status. It is known as an elegance duration. In the end of the elegance duration, you need to start repaying your loan. You may be allowed as much as ten years to settle your loan.

That will be billing me for my Perkins Loan?

The college can bill you directly or work with a billing/servicing business. In the event that you received your loan from Shippensburg University, we make use of a billing/servicing company. The business we use is Educational Computer Systems, Inc. (ECSI) based 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 documents for education loan servicing, tuition re re payment plans, refund disbursements, as well as other items. Try not to deliver re payments for this target.

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

It is possible to deliver your re payment right to Shippensburg University. If you choose to mail the re payment to your college, please spot your SUID number while the word Perkins within the memo section of the check.

Which workplace handles the Perkins Loan Program once we have finished from college or stopped going to college for some other 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 repayment of my Federal Perkins Loan?

Yes. Under certain circumstances, you are able to be given a forbearance or deferment in your loan. Throughout a deferment, you’re allowed to temporarily postpone re re payments for you loan, with no interest accrues. You might get a deferment under particular conditions, such as for example jobless.

Deferments aren’t automated. You must make an application for one throughout your Shippensburg University by finishing a deferment request kind. You have to register your deferment request on time or you’ll pay a belated fee.

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

If you’re temporarily not able to satisfy your payment routine but they are perhaps not qualified to receive a deferment, you can easily get forbearance for a finite and certain period. During forbearance, your repayments are postponed or paid off. Interest continues to accrue; you’re in charge of it.

Forbearance just isn’t automatic either. You may well be issued forbearance in 3 to 12 thirty days periods for as much as 36 months. You have to use on paper for forbearance through Shippensburg University or ECSI. You’ll have actually to give documents to aid your obtain forbearance. You have to carry on making scheduled re payments and soon you are notified that deferment or forbearance happens to be 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 right down to the ECSI Forms.

If i’ve a big change of status, whom must I contact?

You should contact any office during the college whom handles the repayment of your Perkins Loan or their billing/servicing business with any modifications in name, target, phone number, Social Security quantity, or driver’s license quantity. 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? May be the loan reported to a Credit Bureau?

Yes, if the debtor dies or becomes completely and permanently disabled, the mortgage may be terminated. That loan can also be eligible for a cancellation under specific other conditions – provided that the borrower 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 following the initial disbursement of funds.

Extra questions regarding your Federal Perkins Loan?