The Perkins loan is a low-interest loan available to undergraduate students with great financial need. UCCS acts as the lender using a limited pool of funds provided by the federal government. Interest is subsidized (paid) by the government while the student is in school and during the nine-month grace period after the student leaves school or drops below half-time enrollment status. Loans enter repayment after the grace period.
The Federal Perkins Loan program will sunset after September 30th, 2017. An undergraduate student may receive Perkins Loan through September 30th, 2017.
Please note that if you receive a disbursement of Perkins Loan between June 30, 2017 and October 1, 2017 you may receive subsequent disbursements of this Perkins Loan for the 2017-2018 award year.
The Perkins loan is at a fixed 5% interest rate.
Perkins loans are not subject to any loan fees.
|Perkins Loan Limits|
|Level||Annual Limit||Aggregate Limit|
Note: It is at the discretion of the Institution to award less than the annual limits.
All Perkins borrowers are required to complete Perkins exit counseling once they have graduated or ceased half-time enrollment. You will receive a letter from Heartland ECSI, a third-party servicer for the university, when your exit counseling becomes available to complete.
In some cases, you may be allowed to postpone your loan payments by either receiving a deferment or forbearance. Check with the Loan Administration Office, second floor Main Hall, to see if you qualify for a deferment or forbearance.
Your Federal Perkins Loan may be cancelled under certain conditions. For more information, visit our servicer, Heartland ECSI, and their loan cancellation page or check with Student Financial Services for more information.