Federal Perkins Loan Information and Payment
A Federal Perkins loan is a low-interest (5%) loan for undergraduate and graduate students with "exceptional" financial need.
Hunter College's school code is F5.
To qualify for a Perkins Loan, a student must be/have:
- enrolled at least half-time in a degree program
- US citizenship, permanent residency or eligible non-citizen status
- satisfactory academic progress
- no unresolved defaults or over-payments owed on Title IV education loans and grants
- satisfaction of all Selective Service requirements
Perkins Loan Benefits:
- 9-month grace period
- no origination fees
- no default fees
- 5% interest rate
- 10-year repayment period
- loan forgiveness
Under the Teacher's Loan Forgiveness Program, you must meet the requirements to receive cancellation benefits on your student loan. The cancellation form you file requires the signature of an authorized official in the certification section (i.e. Principal, Assistant Principal or Superintendent) to certify your teaching services. If you are applying for forgiveness of loans that are with different servicers, you must submit a seperate from to each of them. ** PAYROLL NOT ACCEPTABLE **
Please see below for other helpful links:
infohub.nyced.org/resources/employee-info/employment-verification
studentaid.ed.goc/sa/repay-loans/forgiveness-cancellation/teacher
CUNY's contracted billing service for Perkins Loan repayment is ECSI (Educational Computer Systems, Inc.). Approximately nine (9) months after you graduate or discontinue your education, ECSI will contact you about making payment arrangements for your Perkins Loan.
ECSI
100 Global View Drive
Warrendale, PA 15086
1-888-549-ECSI (3274)
Website: www.ecsi.net
