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Federal Perkins Loan

Perkins Loans are low-interest federal student loans for undergraduate students with exceptional financial need. Here's a quick overview of the Federal Perkins Loan:

  • Funds from the Perkins program come primarily from repayments by previous Fordham University borrowers, in addition to contributions from Fordham University and the Federal Government. Fordham University is the lender.
  • The interest rate is a fixed 5%. Interest does not accrue while you are in school. 
  • Loan repayment begins nine months after you graduate, leave school, or drop below half-time status. This nine-month period is known as the grace period.
  • At the end of the grace period, you begin repayment and are allowed up to 10 years to repay the loan.
  • The assigned third party billing servicer for all Perkins loans is Heartland ECSI, they manage your billing and repayment options.
  • You will need your Heartland Key, which is included in the disclosure statement you received from ECSI, in order to register and access your account.
  • If there are issues accessing your ECSI account, visit their FAQ page.