Federal Perkins Loan

The Federal Perkins Loan is a relatively low interest rate loan with no processing or origination fees. Since loan funds are very limited, it is awarded to high need students who apply by the priority deadline of January 1, 2017.  It offers a fixed 5% interest rate which is charged during repayment, although interest free while still in school and for up to nine months after leaving school. This loan also offers loan forgiveness/cancellation for those who qualify.

Receiving your Federal Perkins Loan

Once you have been notified that your financial aid award notification is available to view online, log into your e-Services account. Students who have been awarded a Federal Perkins Loan on their official award notification will be sent an email to their BSU student email account from Heartland ECSI within a few days of receiving the award.  It is imperative you read and complete the online process immediately to ensure timely disbursement of your loan. To complete the online process, go to https://www.ecsi.net/promx7/.  If you have questions, please contact ECSI at 1-888-549-3274.

For additional information, see the Annual Disclosure 2017-2018.

Loan Reporting

Perkins Loan information will be submitted to the National Student Loan Data System and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

Loan Repayment

Billing and payment processing for your Federal Perkins Loan is handled by Heartland Educational Computer Systems, Inc (ECSI).  You have the ability to access your account on the Internet through ECSI’s website at www.heartlandecsi.com.  Through their site, you can verify when payments have been received, update address and phone information, check on your account balance, obtain loan payoff amounts, and sign up for electronic billing.  You will be given a five-digit security code, which allows only you access to your account information.

For Deferment, Cancellation or Postponement of Perkins Loans, please contact:

Minnesota State Colleges and Universities
Financial Collections
30 7th St E Suite 350
St. Paul, MN 55101-7804
Tel: 651-201-1500     Fax:  651-215-3979
Toll free outside the Metro area: 1-855-508-4506
Website: http://www.minnstate.edu/system/slsc/  Email: loans@minnstate.edu

Exit Interview for Federal Perkins Loan

When you graduate, transfer or drop below six credits, federal regulations require an exit interview.

Exit interview directions will be mailed to your permanent address.  You will receive a pin number and the website (www.heartlandecsi.com) to complete your exit interview.  If an exit interview is not completed for the Federal Perkins Loan there will be a hold placed on your financial aid and registration.

To ensure the integrity and the best interests of our students BSU employees are subject to the Student Loan Code of Conduct.