- A federal Perkins loan is a loan which MUST BE REPAID.
- To determine your eligibility for a federal Perkins Loan, you must first complete your FAFSA.
Student Financial Planning will contact you with the loan amount to accept if eligible.
- You must be in good standing (not in default) on any previous federal student loans in your name.
- Perkins loans offer a 5% interest rate that is deferred (postponed) while in at least a part-time status.
- You will receive a one-time 9 month grace period after graduation, dropping below part-time status, or dropping out of classes completely
You can renew your in-school status if attending another accredited institution at least part-time or by returning to Drake at least part-time.
- You must repay your loan within 10 years.
Deferment, forbearance, and cancellation options are available.Visit www.ecsi.net to determine your eligibility.
- ECSI and Drake University make all final approval and denials for these requests.
- To access your loan information, visit our loan servicer’s (ECSI) website:
School Code: G3
888.549.3274 for login questions
For further questions regarding this loan, please contact Randi Boelkes at 515.271.3174 or email@example.com.