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Federal Perkins Loans
Loan Programs

Federal Perkins Loans are long-term, low-interest loans awarded to students by SUNY ESF based on financial need and fund availability.

Federal Perkins Loan Amounts

The amount available in Federal Perkins Loan funding will vary for each student.  In general, amounts offered will range from $1,000 to $4,000 per year.  The amount offered will tend to decrease as the student advances in class year and Federal Stafford Loan eligibiity increases.

Federal Perkins Loan Terms and Conditions

Interest Rates
Federal Perkins Loans have a fixed interest rate of 5.00%.

Fees
There are no fees for Federal Perkins loans.

Repayment
In most cases, regular loan payments begin after the loan grace period, or 9 months after the student graduates, leaves school, or drops below half-time enrollment.  Repayment will initially be scheduled for fixed monthly payments over a 10 year period.  SUNY ESF will transfer all loan records to the SUNY Student Loan Service Center following a student's separation from the school.  Following the transfer, all loan transactions should go through the SLSC.

How to Apply for a Federal Perkins Loan

Students should complete the following steps to apply for a Federal Perkins Loan:

1. Complete the Free Application for Federal Student Aid (FAFSA)
2. Accept the Federal Perkins Loan on the Financial Aid Award Notification Letter
   

Please note: students who have not been offered a Federal Perkins Loan are not eligible to complete an application.

1. Collect the following information:
• Social Security Number
• Federal PIN
• Name, address, and phone number for a parent or relative and two personal references
  
2. Go to the Student Loan Service Center website at http://slsc.albany.edu/borrowers/
   
3. Click "Access and Sign Your Electronic Documents"
4. Follow the provided instructions to complete the Perkins Loan Master Promissory Note and Entrance Interview

Please be sure to save the web address and your SLSC PIN number in order to access your account information in the future.

Last updated on January 15, 2010