How to Apply
THE FEDERAL PERKINS LOAN
Perkins Loans are student loans funded by the federal government and administered by Duke University.
- Students who demonstrate financial need based on information submitted through the FAFSA may qualify for a Perkins Loan.
- The loan is interest free as long as the student remains enrolled at least half-time in an accredited degree program.
- Under certain circumstances, the federal government may cancel or "forgive" all or part of a Perkins Loan.
|
Annual Limits |
Origination Fees |
Interest Rate |
Repayment Begins |
|---|---|---|---|
|
Undergraduate - $5,500 |
None |
5% fixed |
Nine months after student graduates, withdraws, or attends school less than half time. |
|
Graduate - $8,000 |
None |
5% fixed |
Nine months after student graduates, withdraws, or attends school less than half time. |
Duke University is pleased to have Educational Computer Systems
Incorporated (ECSI) provide services for Federal Perkins, Health
Profession and Duke University Institutional loans. ECSI is a billing
service, not a collection agency.
One of the many features
of the ECSI service is that borrowers have the ability to access their
accounts on ECSI’s website. Through this site,
borrowers are able to:
• complete promissory notes
• verify when payments have been received
• update address and phone information
• check account balance
• obtain loan payoff amounts
• signup for electronic billing