Federal Perkins Loan

The Federal Perkins Loan is a federally funded low-interest loan.  Kettering College is the lender, using funds from the federal government and/or payments collected from previous borrowers.

Application Process

Since funds are limited, in order to be considered for the Perkins Loan, you must apply for financial aid at Kettering College by the priority deadline of March 31. For more information regarding this process refer to How to Apply.

Perkins Loans are first awarded to students with the most need who meet the priority deadline of March 31 and requested to be considered for the Federal Perkins Loan. If there are still additional funds to award after the priority deadline, a second priority deadline of April 15 will be used.

Repayment Terms

The Perkins Loan interest rate is currently 5%. No interest accumulates while you are enrolled at least half-time or during the nine-month grace period. Repayment of principal and interest begins nine months after you graduate, withdraw, or drop below half-time enrollment. Borrowers may be allowed up to ten years for repayment of this loan.

In general, Kettering College awards $2000 per school year to those who are eligible. If you ARE a recipient of the loan, you will be notified by e-mail during fall semester. You will be directed to complete the following if considered:

Master Promissory Note/Entrance Counseling

  • Log on to Heartland-ECSI's website at https://www.ecsi.net/prom2U
  • Confirm your identity.
  • Completely read the Promissory Note. Once you have read it you must electronically sign it at the bottom of the page. The electronic signature includes a check-off box plus your full legal name.
  • If you received a Federal Perkins Loan while a student at Kettering College, then you are required to complete exit counseling BEFORE you leave school or graduate.

Exit Counseling

Exit interview counseling is designed to prepare you for the repayment of your student loan(s), provide you with detailed information regarding deferment and/or cancellation privileges, and to assist you with personal financial management. Failure to complete the exit counseling will result in a HOLD being placed on your grades, diploma, transcripts, etc.

You are required to complete this if one of the following happens:

  • you have applied to graduate at the end of the current semester - OR -
  • you have withdrawn for the current semester - OR -
  • you are not at least half-time for the current semester.

To complete your online exit interview, please access Heartland-ECSI's Web site at www.ecsi.net:

  • Click on "manage your Student Loan Acocunt" School Code: 2U
  • Account number: Social Security Number
  • PIN Number: Number assigned to borrower by Heartland-ECSI
  • Click the "Login" option to begin the process.

If you have any trouble completing your online exit interview, please contact Heartland-ECSI at 1-888-549-3274.

updated 9/27/12