Federal Perkins LoanThe Federal Perkins Loan is for
students who have an EFC of less
than 1,501. Undergraduates and Credential students are limited to $4000/year and $20,000
cumulative. Graduate and 2nd BAC students are not eligible. Repayment and interest
begin 9 months after you are no longer enrolled at least half
time.
Requirements:
-
Complete FAFSA process -
Be enrolled as an Undergraduate or Credential
Student -
Demonstrate financial need -
Have an award available -
Have an EFC of less than 1501
Interest:
Loan Limit:
-
$4,000 maximum per academic year for Undergraduate
students -
$6,000 maximum per academic year for Credential students -
$20,000 cumulative maximum for Undergraduate students -
$40,000 cumulative maximum for Credential
students
Repayment:
- Repayment begins 9
months after less than half time enrollment
-
There are forgiveness provisions for certain students: teachers
of certain subjects or teachers in low income areas; registered nurses working
in eligible facilities located in areas experiencing a shortage of nurses may
participate in the U.S. Department of Health and Human Services’ Nursing
Education Loan Repayment Program (NELRP); and enlisted persons in certain
specialties of the Armed Forces, the U.S. Department of Defense might, as an
enlistment incentive, repay a portion of your student
loan.
What to do if you have been awarded a Perkins:
-
You are required to electronically sign a Perkins promissory
note and complete a borrower information sheet by the last day of instruction
for the term. The Bursar's Office billing servicer, ECSI, will notify
you either by email or regular mail as to when you may log-on to
their website at https://www.ecsi.net/prom1P/ in order to complete this
process. ECSI will notify the university once you have completed this process
so your Perkins Loan can be reviewed for disbursement to your student account.
For more information, go to: http://www.sjsu.edu/bursar/docs/info/perkins_esignature. If
you have further questions regarding this process, contact the Bursar's Office
via phone 408.924.1601 or email bursar@sjsu.edu.
Disbursement:
For more information:
contact the Financial Aid
and Scholarship Office
contact the Bursar's Office
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