The Federal Perkins Loan is a low-interest loan administered by the University and awarded to eligible students.
New borrowers: First-time borrowers must complete a Master Promissory Note (MPN) online (https://www.ecsi.net/promC79/)
The MPN is a legal document on which the borrower’s signature represents a promise to repay future disbursed loans.
A Federal Perkins Loan is awarded depending on the need of a student, which is determined by filling out the FAFSA form. If the student qualifies for a Perkins Loan, it will be included in the award letter that the Financial Aid Office mails to the student’s permanent address.
Once the student is notified of eligibility, the student may accept or decline the loan. Students who chose to accept the Perkins Loan will be required to fill out a promissory note and data form. These two forms must be completed in full and returned to the Office of Financial Aid in order to have the Perkins Loan credited to the student’s account.
The Perkins Loan may be cancelled at any time, partially or in its entirety. Students may do so by making a note in their Financial Aid award letter, or by contacting the Financial Aid Office at 215-951-1070.