Perkins Loans

Promissory Note and Entrance Counseling

Students awarded a new Federal Perkins Loan must complete two steps in order to have the loan applied to their account:

1. Sign a Master Promissory Note
   Master Promissory Notes are available to students in the Avila University Business Office located in lower Blasco Hall. Borrowers must provide a driver’s license or state issued ID.
   
   
2. Complete entrance counseling in the Business Office
   Entrance counseling must be done in person at the Avila University Business Office. Borrowers must bring the names, addresses and telephone numbers of four references. One reference should be a parent or guardian and each reference must reside at a different address. Entrance counseling takes approximately 15-20 minutes.

Please contact the Business Office at 816-501-3700 with any questions.

Terms and Conditions of the Perkins Loan
The Federal Perkins Loan is available to undergraduate students and is awarded by the Financial Aid Office on the basis of need. Funds for the Perkins Loan come from the federal government and Avila University is the lender. The Perkins Loan is a subsidized loan, meaning that the government pays the interest on the loan while the borrower is in school. When borrowers leave Avila or drop below six credit hours in the fall or spring, they must complete exit counseling for the Perkins Loan. Students have a nine-month grace period on the loan after they leave school and interest does not accrue during this grace period. There are no origination fees when the loan is disbursed.

It is the borrower’s obligation to keep the lender (Avila University Business Office) informed about changes in his or her status. Changes to a borrower's name, address, phone number, or Social Security number must be reported immediately.

Contact us if you have any questions or need help with your loan:
Perkins Loan Coordinator Maggie Lambi Phone: (816) 501-3741 E-mail: maggie.lambi@avila.edu	OR	Avila University Federal Perkins Billing Agent ACS, Inc. – Education Services Campus Products and Services PO Box 7060 Utica NY 13504-7060 (800) 826-4470 https://www.acs-education.com

Returning Perkins Borrowers

How Much Have I Borrowed? National Student Loan Data System (NSLDS) for students

Each semester that you are awarded a Federal Perkins Loan, you must sign the disbursement notification form or “Rights and Obligations” in the Business Office. Your loan amount will not be disbursed to your student account until this form is signed.

Please contact the Business Office at 816-501-3700 with any questions regarding this process.

Contact us if you have any questions or need help with your loan:
Perkins Loan Coordinator Maggie Lambi Phone: (816) 501-3741 E-mail: maggie.lambi@avila.edu	OR	Avila University Federal Perkins Billing Agent ACS, Inc. – Education Services Campus Products and Services PO Box 7060 Utica NY 13504-7060 (800) 826-4470 https://www.acs-education.com

 

Exit Counseling

All Perkins loan borrowers must complete exit counseling when they do any of the following:

• Graduate from Avila University
• Drop below six credit hours for the Fall or Spring semester
• Withdraw from Avila University at any time
• Transfer to another school

The Business Office will give you information about your particular loan, along with a loan disclosure statement, which you must sign and return.

*Please Note: The exit counseling required for the Perkins loan is separate from the exit counseling required for Federal Stafford Loans. If you have questions regarding loan repayment or the exit counseling procedure, please contact Maggie Lambi in the Business Office at 816-501-3741.

Repayment Information
Repayment information is given to you at your exit counseling by the Avila Business Office. The information will be student specific.

Students may check on their total amount borrowed for all loans, including Perkins, on the web site for the National Student Loan Data System (NSLDS) for students.

Contact us if you have any questions or need help with your loan:
Perkins Loan Coordinator Maggie Lambi Phone: (816) 501-3741 E-mail: maggie.lambi@avila.edu	OR	Avila University Federal Perkins Billing Agent ACS, Inc. – Education Services Campus Products and Services PO Box 7060 Utica NY 13504-7060 (800) 826-4470 https://www.acs-education.com

 

Deferment

A deferment allows the borrower to cease making payments on a Perkins loan. Interest on the loan does not accrue during the deferment period. Deferments are available for borrowers who are:

• Enrolled and in attendance as a regular student in at least a half-time course of study in an institution of higher education.
• Enrolled and in attendance as a regular student in an approved fellowship program or approved rehabilitation training program for disabled individuals. (This does not include a medical internship or residency program, except a residency in dentistry.)
• Engaged in services which are eligible for Cancellation benefits (see below.)
• Serving in a residency program in dentistry.

Additional information will be given to you at your exit counseling. You may also download deferment forms at ACS.

Forbearance

Forbearance also allows the borrower to cease making payments on a Perkins loan. Borrowers must apply and be approved for forbearance before discontinuing scheduled payments. Interest on the loan accrues during the forbearance period. Borrowers may pay this interest during the forbearance period or in a lump sum at the end of the forbearance period. Borrowers are eligible for a forbearance if their monthly Title IV loan burden is over 20% of their total monthly gross income, or if they are unemployed and unable to find a job. Borrowers who are unable to make their regular payments due to a disability may also be eligible for either forbearance or a reduction in their payments.

Forbearances are renewable at intervals of up to 12 months for periods that collectively do not exceed three years. You will receive additional information on this at your exit counseling session. You may also download forbearance application forms at ACS.

Cancellation

Borrowers who perform services in certain occupations may be eligible to have portions of their Perkins loan canceled. Please contact the Avila Business Office if you have been employed in the following occupations after graduation:

• Full-time teacher in an elementary or secondary school with a high concentration of students from low income families
  
• Full-time special education teacher in an elementary or secondary school
  
• Full-time teacher in an elementary or secondary school in the fields of mathematics, science, foreign languages, bilingual education, or any other field of expertise that is determined by the State Department of Education to have a shortage of qualified teachers.
  
• Full-time qualified professional provider of early intervention services in a public or nonprofit program
  
• Full-time law enforcement or corrections officer
  
• Full-time nurse or medical technician
  
• Full-time employee of a child or family service agency
  
• Full-time staff member in the educational component of a Head Start Program
  
• Member of the Armed Forces in an area of hostilities
  
• Volunteer under the Peace Corps Act or Domestic Volunteer Service Act of 1973

Additional information will also be given at your exit counseling.
You may also download cancellation application forms at ACS.

Contact us if you have any questions or need help with your loan:
Perkins Loan Coordinator Maggie Lambi Phone: (816) 501-3741 E-mail: maggie.lambi@avila.edu	OR	Avila University Federal Perkins Billing Agent ACS, Inc. – Education Services Campus Products and Services PO Box 7060 Utica NY 13504-7060 (800) 826-4470 https://www.acs-education.com