Perkins Loan FAQs:

What is a Federal Perkins Loan?

A Federal Perkins Loans is a campus-based student loan program. This means that the University awards and collects on the student loan. The Perkins Loan has an interest rate of 5%. The grace period (the period of time between leaving the University or dropping below half-time status and repayment) on this loan is 9 months. The minimum payment is $40.00 per month.

What happens with my student loan after I leave the University of Arkansas?

Your loan is placed in grace status for nine months; and then it's reclassified into repayment status. Educational Computer Systems, Inc. (ECSI) mails student loan invoices each month. Payment is always due on the 1st of each month.

When are my payments due?

The payments on the Federal Perkins Loan are due on the 1st of each month. The University contracts with a student loan servicer, Educational Computer Systems, Inc. (ECSI) who mails a monthly invoice to update you on the status of your loan. The Federal Perkins Loan is not in repayment status until nine months after you have dropped below half-time status or have left the University.

I can't find my statement and my payment is due. What should I do?

Your payment is always due on the 1st of each month. Be sure to put your ID number on your check or money order and indicate that it is a student loan payment. Mail your payment to the following address:

  • University of Arkansas
    P.O. Box 1287
    Coraopolis, PA 15108

Please refer to the Make A Perkins Loan Payment page for additional information.

Can I make extra payments on my loan account(s)?

You may make extra payments on your loan at any time. Send your extra payment to ECSI at the address listed above. All extra payments received on your student loan are applied to the principal balance on your account.

What types of deferment options are there on my loan and how do I apply?

The following types of deferments are available on Federal Perkins Loans:

  • Half-time student (or more) in an institution of higher education (no time limit)
  • Full-time member of the United States Armed Forces (3 year time limit)
  • Full-time volunteer service for the Peace Corps or Vista (3 year time limit)

Review the Repayment Information page for additional information.

Additional Eligibility

Loans made after SEPTEMBER 30, 1980:

  • Officer in the Commissioned Corps of the U.S. Public Health Service (3 year time limit)
  • Volunteer in a tax exempt organization comparable to the Peace Corps (3 year time limit)

Loans made after JULY 1, 1987:

  • Active duty member of the National Oceanic and Atmospheric Administration Corps (3 year time limit)

Loans made after JULY 1, 1993:

  • Pursuing a course of study in an approved graduate fellowship program
  • Pursuing a course of study in an approved rehabilitation training program for disabled individuals
  • Engaged in graduate or post graduate fellowship-supported study (such as pursuant to a Fulbright grant outside the United States)
  • Unable to find full time employment (3 year time limit). Anyone requesting this deferment must provide proof that they are seeking employment.
  • Suffering an economic hardship (3 year time limit)

To find out if you qualify for one of these deferments, contact ECSI at 1-888-549-3274 or the Student Loans Office at 1-800-462-2174.

Am I eligible for partial loan cancellation?

You may be eligible for a partial cancellation if you are:

  • A full time volunteer in the Peace Corps, VISTA, or a comparable organization
  • A full time qualifying law enforcement, corrections officer, or attorney employed in Federal Public Defender Organizations or Community Defender Organizations (for loans after November 29, 1990)
  • On full time active duty in the United Stated Armed Forces in an area of hostility
  • A full time nurse or medical technician (for loans after July 1, 1993)
  • A full time provider of Early intervention services, a qualified professional provider of early intervention services in a public or other nonprofit program under public supervision.
  • A full time provider of Prekindergarten, childcare, Head Start cancellation, the borrower has served full-time as a staff member in a prekindergarten or childcare program, or in the educational part of a preschool program carried out under the Head Start Act
  • A full time classroom teacher in a:
    • federally designated low-income school,
    • special education program,
    • Head Start Program,
    • designated teacher shortage field such as math, science, foreign language, or bilingual education, and
    • low income educational service agency
  • Public Service Cancellation — Cancellations for eligible service that includes August 14, 2008, or begins on or after that date.
    • A full time fire fighter with a local, State, or Federal fire department or fire district,
    • A full time faculty member at a Tribal College or University,
    • A full time librarian with a master's degree in library science who is employed in an elementary or secondary school that qualifies for Title I funding, or in a public library that serves a geographic area that includes one or more Title I schools, and
    • A full time attorney employed in a federal public or community defender organization.
    • A full time speech-language pathologist with a master's degree who is working exclusively with Title I-eligible schools.

If you think you may qualify, contact ECSI at 1-888-549-3274 or the Student Loans Office at 1-800-462-2174.

Due to temporary financial trouble, I am unable to make my payments. What should I do?

Contact ECSI at 1-888-549-3274 or the Student Loan Office at 1-800-462-2174. We can set up the correct plan of action for your individual loan.

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