Perkins Loan Account

Perkins Loan Borrower

 

Graduating or Leaving NIU

If you were a Perkins Loan recipient, you will be required to complete an Exit Interview on your Perkins Loan prior to graduating, or upon leaving school. When notification is received that you are graduating, or leaving NIU, information will be sent to you regarding the Exit Interview and your options for completing it. To complete the required paperwork online, login to My Account using your account number and ECSI pin number. Click on the "Exit Interview" link. From the list of Pending Exit Interviews, select the appropriate exit to complete and follow the instructions provided. From the information presented in the Exit Interview you will learn your obligations as a borrower, when your repayment of the loan is to start, the amount of the monthly payments, and your rights under this loan program.

Grace Period

A grace period is the amount of time before you, the borrower, must begin repaying your loan. If you have been attending school at least half time, you will be eligible for an initial grace period of nine months, beginning with the date you stop attending school or drop below half time.

Repayment Plan

As a borrower, you must repay your loan, plus interest, in 10 years. This repayment period does not include authorized periods of deferment, forbearance, or cancellation. If you received Perkins Loans from more than one school, the repayment of each loan is made to the school where you received the loan.