Perkins Loan
The Perkins Loan program at TLU is an institutionally based federal loan program. Unlike the Federal Stafford and PLUS loan programs that use an outside lender, the Federal Perkins Loan is administered by TLU. This means that the university fills the role of lender and repayment of Perkins Loan funds is to TLU. This federal loan is interest free while enrolled a minimum of half time. If you drop below half-time status, your loan goes into repayment and interest will accrue at five percent.
If you have been awarded a Federal Perkins Loan, you must complete entrance counseling to receive your loan funds. Exit counseling is required once you drop below half-time enrollment as a TLU student. Entrance and exit counseling can be done on-line at
http://www.campusoncall.com/.
Please be aware that completing the exit counseling requires some set up by our Perkins representative in the business office. Part of your counseling will include information specific to your loan(s), your rights and responsibilities and a disclosure statement indicating your monthly payments during repayment. Contact Bridget Lawrence at
blawrence@tlu.edu or at 830-372-8010 to be set up properly to complete your exit counseling.
Although you may have completed your exit counseling, you may still need additional information on options such a deferment, forbearance or cancellation in regards to your Perkins loan. You may go online at
http://www.acs-education.com to obtain details and forms concerning these options. You may also contact Bridget Lawrence at 830-372-8010 or by e-mail at
blawrence@tlu.edu if you have questions.
Whether you are a currently enrolled borrower or you have been in repayment on your Federal Perkins loan for some time, please be aware that the continuation of this loan program at TLU is dependent upon you! Our ability as a university to provide Perkins Loan funds to new students is directly tied to our former students' repayments. Your success at repaying this debt ultimately helps someone else attend TLU. What a great way to help TLU and future TLU students!
