Federal Perkins Loan

The Perkins Loan program has been suspended and is currently unavailable.

  • Federal Perkins Loans are available to undergraduate and graduate students on the basis of exceptional financial need as documented from the FAFSA.
  • Undergraduate students may borrow up to $5,500 per year and graduate students may borrow up to $8,000 per year not to exceed an aggregate limit of $27,500 for undergraduates and $60,000 for graduates.
  • Entrance loan counseling is required EACH year for Federal Perkins Loan borrowers.
  • The first payment on the Federal Perkins loan is delayed for 30 days following the first date of enrollment for first-time borrowers. In addition, each disbursement on a Federal Perkins Loan must be reported to a national credit bureau.
  • Annual interest rate is 5%.
  • Interest does not accrue and repayment is not required as long as the student is enrolled for at least six semester hours in a degree program.
  • Repayment begins nine months after the student graduates or ceases to be enrolled for at least six semester hours.
  • Under certain circumstances a portion of the loan may be cancelled for designated public service.

The lender for the Federal Perkins Loan is Texas Woman’s University. TWU utilizes the loan billing services of Heartland ECSI. After you graduate or drop below half-time enrollment, all general billing questions should be directed to Heartland ECSI at 888-549-3274. Questions regarding forbearance or deferment should be directed to www.heartland.ecsi.net or 888-549-3274.

Page last updated 3:51 PM, April 18, 2019