Perkins Loan

Loan Qualification Information

  • Federal need-based program
  • Fixed 5% interest rate
  • UConn is the Lender
  • Available to eligible full-time students
  • Repayment begins nine months after a student’s enrollment drops below half-time status or the student graduates
  • FAFSA is required
  • Complete the Perkins Loan Master Promissory Note requirement

 

First Time Loan Borrowers

Federal regulations require that all first-time borrowers complete a Master Promissory Note (MPN). Log in to ECSI, our Loan service provider to electronically complete your MPN. Please understand that the loan proceeds cannot be disbursed against your fee bill until you complete this step.

With the awarding and accepting of a loan you will begin to receive email at your UConn address from ECSI. It is important you read these messages. They will provide important information and links regarding your Perkins Loan responsibilities.

Please Note: You will need your FAFSA PIN to complete your MPN. If you do not have a valid PIN, you must access the Department of Education’s PIN site.

 

Loan Repayment

After you graduate, leave school, or drop below half-time status as a student, you will have a nine-month (9) Grace Period before you must begin repayment of your Loan. You will have up to ten (10) years to repay the loan. You will be billed on a monthly basis after your grace period expires. If you do not remit your payment on a timely basis, you will be assessed a Late Fee. You may prepay any or all of the loan principal at any time before it becomes due.

It is your responsibility to keep ECSI or the Student Loan Office informed of your current address, email and phone numbers. Please contact ECSI at 1-888-549-3274 or log in to your account to change your contact information. Additional information is provided in the Loan Exit Interview.

 

Exit Counseling

All Loan borrowers must complete exit counseling if they have graduated, left school, or dropped below half-time. UConn contracts with ECSI to complete the exit counseling for Perkins Loans.

Graduating borrowers will be contacted by ECSI after graduation at their UConn email address when the exit counseling on-line forms are available. You can view your ECSI account online. If you have received other loans in addition to your Perkins Loan, you must separately complete exit counseling forms for each loan type. More information about other Financial Aid loan counseling.

Please note that Online Exit Counseling is not available for borrowers who graduated or left the University prior to December 2003. Those borrowers must contact the UConn Federal Perkins/Nurse Faculty Loan Office at (860)486-4835 in order to fulfill their exit requirements.

 

Loan Deferment/Cancellations/Forbearance

More information on deferring your loan or cancellations.

 

 

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