Federal Perkins Loan
Loans made through the Federal Perkins Loan Program, often called Perkins Loans, are low-interest federal student loans for undergraduate and graduate students with exceptional financial need.
Important: Under federal law, the authority for schools to make new Perkins Loans ended on Sept. 30, 2017, and final disbursements were permitted through June 30, 2018. As a result, students can no longer receive Perkins Loans.
Paying back your Perkins Loan: If you are attending school at least half-time, you have nine months after you graduate, leave school, or drop below half-time status before you must begin repayment. The University of Sioux Falls is the lender for the Perkins Loan; however when it is time for repayment, students must send payments to ECSI, USF's loan servicer. Generally, the minimum monthly payment is $40 and the maximum repayment period is 10 years. You can visit the ECSI website to learn more.