Federal Perkins


  • 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 randi.boelkes@drake.edu.

University News
April 15, 2014
Drake University’s Principal Financial Group Center for Global Citizenship (PFGCGC) will host a discussion on the Keystone XL Pipeline initiative in collaboration with the Iowa Energy Forum. General James Jones, a former national security advisor, will discuss the benefits of the pipeline initiative.