Deferments

Under certain conditions, Perkins borrowers may be eligible to defer payment of their loan. During a deferment, borrowers are allowed to temporarily postpone payments on their loan, and no interest accrues. 

To review a complete list of deferment options with eligibility details, visit ECSI at   https://www.ecsi.net/help/regs_00007.html.  To download specific forms, please go to ECSI’s website,  https://www.ecsi.net/bwr/forms/index.html.

Borrowers meeting eligibilty criteria must complete and sign any applicable form and provide any requested documentation to the Perkins Student Loan Office at Loyola before a deferment will be granted.

Deferments/cancellations

Under certain conditions, a Perkins borrower can have a portion of the debt waived.

To review a complete list of deferment/cancellation options with eligibility details, visit ECSI at https://www.ecsi.net/help/regs_00007.html.  To download specific forms, please go to ECSI’s website,  https://www.ecsi.net/bwr/forms/index.html.

Borrowers meeting eligibilty criteria must complete and sign any applicable form and provide any requested documentation to the Perkins Student Loan Office at Loyola before a deferment or cancellation will be granted.

Economic Hardship/Unemployment Deferment or Forbearance Request

Borrowers who are willing but unable to meet their loan obligation may be eligible for an Economic Hardship/Unemployment Deferment or Forbearance.

If you qualify for an Economic Hardship/Unemployment Deferment you are allowed to temporary postpone your payments and no interest accrues during the deferment.

If you qualify for the Forbearance, payments are postponed for a certain amount of time; however, interest continues to accrue. You must choose to either pay the interest monthly or pay the interest at the end of the approved forbearance. If you choose to pay the interest at the end you must pay the entire amount of interest that accrued during the forbearance period. Schools are not allowed to capitalize the interest.

To review a complete list of deferment or forbearance options with eligibility details, visit ECSI at https://www.ecsi.net/help/regs_00007.html.  To download specific forms, please go to ECSI’s website,  https://www.ecsi.net/bwr/forms/index.html.

Borrowers meeting eligibilty criteria must complete and sign any applicable form and provide any requested documentation to the Perkins Student Loan Office at Loyola before a deferment or forbearance will be granted.

 

Mailing Address for all Deferment Forms:
Tracy McLendon
Perkins Student Loan Office
Loyola University New Orleans
Campus Box 216
6363 St Charles Avenue
New Orleans, LA 70118
Phone: 504-865-2678
FAX: 504-865-2929
E-mail Address: mclendon@loyno.edu