Federal Perkins Loans

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.

Sunset of The Federal Perkins Loan Program

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.

Perkins Interest Rate

The Perkins loan is at a fixed 5% interest rate.

Perkins Loan Fees

Perkins loans are not subject to any loan fees.

Perkins Loan Borrower Annual and Aggregate Loan Limits

Perkins Loan Limits
Level Annual Limit Aggregate Limit
Undergraduate $5,500 $27,500

Note: It is at the discretion of the Institution to award less than the annual limits.

If You Have Been Awarded a Perkins Loan

  • Log into the myUCCS portal to accept, reduce, or decline your Perkins Loan offer
  • Complete your Perkins Promissory Note in the myUCCS portal
  • Complete Perkins Loan Entrance Counseling at www.mappingyourfuture.org
  • Enroll in at least 6 credit hours
  • Maintain satisfactory academic progress

Perkins Exit Counseling

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.

Paying Back Your Loan

  • Payments on your Perkins Loan begin nine months after you graduate or cease half-time enrollment.
  • During your nine-month grace period, you will receive correspondence from Heartland ECSI, a third-party servicer for the university, regarding repayment of your Perkins Loan.
  • Your Perkins Loan will be serviced by, and all payments will be made to, Hearland ECSI.
  • You may be allowed to take up to 10 years to pay back your Perkins Loan.

Deferring or Canceling Your Loan

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.