The Federal Perkins Student loan program is a campus-based loan program, which means Loyola is the lender. And although Loyola is the lender, we have contracted with ECSI (Educational Computer Systems, Inc) to assist us in servicing our Perkins loans.
The Perkins loan has a 5% fixed interest rate and no interest accrues while the student is enrolled on at least a half time basis, during the 9 month grace period, and during period of deferment. Because this is a federal loan, it is governed by federal regulations set by the Department of Education. The Office of Scholarships and Financial Aid awards Perkins loans to students with exceptional financial need based on the FAFSA. Please contact the Scholarships and Financial Aid office if you have questions about the awarding of Perkins loans or about other federal loan programs.
New borrowers must complete and sign their Master Promissory Note and Entrance Interview. Both may be completed electronically. Please visit http://finance.loyno.edu/perkins/master-promissory-notes-entrance-counseling for further instructions.
Perkins loan borrowers who are graduating, withdrawing from the university or dropping below half-time enrollment are required to complete and sign an Exit Interview. Please visit http://finance.loyno.edu/perkins/exit-interview for further instructions.
Questions concerning the repayment of your Federal Perkins Student Loan can be answered by links on this page or you may contact the Perkins Loan Officer.
Questions concerning your other federal student and parent loans may be answered through links from our Scholarship and Financial Aid web site.
ECSI – We have contracted with Educational Computer Systems, Inc (ECSI) to bill and collect our Perkins Student Loans and Nurse Faculty Loans. We have not ‘sold’ our Perkins loans or Nursing loans to ECSI and will still maintain our Perkins Loan Office here on the main campus at Loyola University New Orleans. However, this company has many resources that will assist not only us in the disbursement and collection of our loans, but will assist our borrowers with many features that we could not provide alone. Some of those features include:
Please be assured that you may still contact us directly: