Perkins loans are made to students through funds administered by the university. These limited funds are given to students with high need on a first come, first served basis. Undergraduate students can receive up to $4,000 a year (Maximum of $20,000 as an undergraduate). The interest rate is fixed for the life of the loan at 5% and begins to accrue after a 9-month grace period. A borrower who has been attending at least half-time is entitled to an initial grace period of nine consecutive months after dropping below half-time enrollment. A borrower must repay his or her loan, plus interest, within 10 years. The Perkins loan funds are very limited and awarded until funds are exhausted.
Graduates working in certain fields may qualify for cancellation of all or part of their Perkins loan. Cancellation and additional UTSA-related Perkins loan information can be found in the "Perkins Frequently Asked Questions" below.
Perkins Loan Frequently Asked Questions:
I've been awarded a Perkins Loan, what's my next step?
Did UTSA sell my loan?
Can I make pre-payments?
Is this loan on my credit report?
Do I have to do an exit interview? Is it available on-line?
I’m enrolled; can I get a deferment?
I can’t make my payment. What do I do?
What is “cancellation”?
Why is a collection agency calling me?
What is Rehabilitation?
Why do I have a HOLD on my account?
Address and/or Telephone Change?
Complete Perkins Entrance Counseling and sign a Master Promissory Note online at https://borrower.ecsi.net/
UTSA does not sell the Perkins Student Loan. We use a billing agency, Heartland ECSI, to process the forms and payments. UTSA is still considered your lender; however payments can be made by visiting https://borrower.ecsi.net/
Yes.You may pay future installments without penalty; however, these pre-payments will not apply to future installments unless you attach a written request to your payment and send an amount sufficient to cover all amounts due plus the complete amount for the future installments you want to pay.
NOTE: Late charges and collection fees might preclude pre-payments from covering the installments you intend to pay. Payments in excess of the amount due that do not cover complete future installments will be applied to the loan principal balance, thus reducing any future interest that will accrue.
Yes, this loan is reported to all the major credit bureaus.
You do have to complete an Exit Interview when you leave UTSA. The Exit Interview is NOT available on-line at this time. You must contact the Perkins Loan Office for more details.
Yes, you may request to defer the repayment of your loan and to interrupt your repayment period. You must submit a deferment request form to ECSI.
*You must be enrolled as a regular student in at least a half-time course of study in an institution of higher education to qualify for deferment.
You can apply for a deferment, forbearance, or cancellation; depending on your situation. If your loan is at a collection agency then you are disqualified from receiving these benefits (see Rehabilitation).
- If you are unemployed you can complete a Hardship/Unemployment Deferment Request**
- If you are having trouble making payments and are employed full-time complete a Forbearance Request**
If you meet the criteria required and if you submit the required documentation** you may be eligible to have your loan cancelled, meaning you do not have to pay the loan back (if you have defaulted on your loan you are not eligible to receive this benefit).
A teacher is defined as one who is a professional employee of a school or school system working full-time for a complete academic year or its equivalent and who is devoted to providing classroom instructions or related services in support of the educational program. Up to 100% of the outstanding loan principal balance may be cancelled for the following threes types of teaching positions, at the rate of 15% the first and second year, 20% the third and fourth year, and 30% the fifth year. Complete the Cancellation Request form**
- Full-time teacher in a public or nonprofit elementary or secondary school designated by the Secretary of Education as having a high concentration of low-income students, and in which more than 30 percent of the school’s enrollment is Title I children, according to the list published annually in the Federal Register.
- Full-time special education teacher, including teachers of infants, toddlers, children and youth with disabilities in a public or nonprofit elementary or secondary school system. The applicant must specify what percentage of students or clients in the class are disabled.
- Teacher in a field of expertise such as mathematics, science, foreign languages, bilingual education or other fields where the state education agency determines there is a shortage of qualified teachers.
Up to 100% of the outstanding loan principal balance may be cancelled for the following four types of employment services, at the rate of 15% the first and second year, 20% the third and fourth year, and 30% the fifth year. The following require the Cancellation Request and Official Letter for Cancellation Benefits** (see below for link to Campus Partners for forms).
- Service as a law enforcement or corrections office in an eligible local, state or federal agency for 12 consecutive months. The agency must be publicly funded and its principal activities must pertain to crime prevention, control, or reduction or enforcement of criminal law, and your principal responsibilities are unique to the criminal justice system. The applicant must be a sworn law enforcement officer, or a person whose principal responsibilities are unique to the criminal justice system.
- Full-time employment as a nurse or medical technician providing health care services for 12 consecutive months. A medical technician is an allied health professional (working in fields such as therapy, dental hygiene, medical technology, or nutrition) who is certified, registered, or licensed by the appropriate State Agency. An allied health professional is someone who assists, facilitates, or complements the work of physicians and other specialists in the health care system.
- Providing or supervising the provision of services to high-risk children from low-income communities and families of such children, and working full time in a public or private nonprofit child or family service agency for 12 consecutive months
- Qualified professional provider of early intervention services working full-time for 12 consecutive months in a public or other nonprofit program authorized in Section 676 (b) (9) of the Individuals with Disabilities Education Act.
- Active duty service in the military in an area of hostilities that qualifies for special pay under Section 310 of Title 37 of the U.S. Code. Up to 50% of the outstanding loan principal balance may be cancelled at the rate of 12 ½% for each year of qualifying service.
- Volunteer service under the Peace Corps Act or Domestic Volunteer Service Act of 1973 (VISTA). Up to 70% of the outstanding loan principal balance may be cancelled, at the rate of 15% for he first two years of service, and 20% for the third and fourth year.
- Full-time service in a Head Start program carried out under the Head Start Act (formerly under the Economic Opportunity Act of 1964), and operated for a complete academic year or its equivalent. The applicant must be a full-time educational staff member, and must not earn more than comparable employee working in the local educational agency. Validation must be attached. Up to 100% of the outstanding loan principal balance may be cancelled, at the rate of 15% for each year of service.
**All forms can be found on the ECSI website: https://www.ecsi.net/bwr/forms/defcanc.html**
If you have defaulted on your Perkins Student Loan your account has been sent to a collection agency. You can attempt to Rehabilitate your loan (see Rehabilitation) and have it removed from collections upon completion of the Rehabilitation process.
The Higher Education Amendments of 1998 created a Loan Rehabilitation program for Perkins Loans. Under this program you have the opportunity to request the rehabilitation of a defaulted loan. Rehabilitation means that, after making 12 on-time, consecutive monthly payments of an amount agreed to by your lending institution, your loan will be returned to regular repayment status, the default will be removed from your credit history, and you will be again eligible to borrow Title IV funds. Please contact the Perkins Loan Office to make arrangements.
There are a number of reasons for a HOLD (default, missing Exit Interview, etc); please contact the Perkins Loan Office Office at (210) 458-4217 or send an email to email@example.com Please include your name and MyUTSA ID from your preferred email address..
Contact the Perkins Loan Office at (210) 458-4217 or send an email to firstname.lastname@example.org with the new information (please include your full name and the last 4 digits of your social security number).
U.S. Department of Education Ombudsman
If you are unable to resolve a dispute with your lending institution concerning the terms of your student loan, you may contact the Department of Education Ombudsman via the internet at http://ombudsman.ed.gov or by telephone toll-free at 877-557-2575, or by mail at the following address:
Office of the Ombudsman
Student Financial Assistance
U.S. Department of Education
Rm. 3012, ROB #3
7th and D Streets, SW
Washington, DC 20202