Federal Perkins Loan - Important Information!
If you have been awarded a Federal Perkins Loan as part of your financial aid award letter for the 2017-2018 academic year, you must act now to ensure the loan is processed successfully.
The Federal Perkins Loan Program is set to end on September 30th, 2017. As part of the wind down of this program, schools can only award the loan for students who have a first (fall) disbursement made before September 30th. These students will also be able to receive their winter and spring portions of the loan.
This means that if you plan to accept your Perkins Loan for this academic year, you must have accepted it and receive the first fall disbursement before September 30, 2017. Due to the multiple steps required to receive a disbursement, students must follow meet the deadlines below to ensure they remain eligible. Students who don’t receive the fall portion of the loan before September 30th will not be eligible for the loan and it will be removed from their award letter.
- Sept 21 – Last day to accept the loan on My Aid Status
- Log in and select the 2017-2018 academic year drop down.
- Proceed to the Student Loan Tab and accept the Perkins Loan.
- Sept 22 – Students who did not accept the loan will have it removed from their financial aid award letters.
- Complete Entrance Counseling and MPN
- After accepting the loan, you will receive an email within 1-3 business days instructing you on the steps to complete your Entrance Counseling and Master Promissory Note (MPN). These loan requirements must be completed successfully in order to process your loan.
- In some cases you will not be able to complete the MPN online. If you are not able to sign online then you will need to mail or bring your signed MPN to the Office of Financial Aid and Scholarships.
- Sept 25-26 – Last days to receive your MPN
- If we have not already received your MPN electronically or by mail you must bring it to the office between 10am and 4pm.
- We cannot guarantee that loans will disburse before the deadline unless the MPN is received on or before Sept 26.
Please act now if you plan to accept your loan and see our website for more details about the Perkins Loan and the expiration of the program.