Federal Perkins Loan

Federal Perkins Student Loans are low interest loans for undergraduate students with exceptional financial need.

St. John Fisher College serves as the lender. Education Computer Systems, Inc. (ECSI) services Fisher's Perkins loans.

Please Note: Federal Perkins Loan funds will not be available after September 30, 2017 due to congressional action.

Perkins Loan Basics

Application Form

Students must file the Free Application for Federal Student Aid (FAFSA) to be eligible for federal loans.


You must be an undergraduate student enrolled in at least 12 credit hours (full time) during a semester, accepted in a degree-seeking program at St. John Fisher College, and maintaining satisfactory academic progress for financial aid eligibility. Borrowers must be U.S. citizens or eligible non-citizens. The Financial Aid Office determines which students will qualify.

Award Amounts

Funding available to lend to students is limited to a set amount of money provided by the federal government, a share contributed by the College, and the repayment of Perkins Loan funds by prior borrowers. Average award is $1,000 per year. Funds are limited and subject to availability. Funds may not be available for renewal in subsequent years due to congressional action.

Interest Rate

The interest rate is 5%. Perkins Loan borrowers are eligible to defer the repayment of the loan principal, with no interest charged while enrolled for classes as at least a half-time student. It is a subsidized loan, with interest being paid by the federal government during the in-school and nine-month grace period. Repayment begins nine months after dropping below half-time enrollment.


Repayment can take a maximum of ten years. Payments will be made to Education Computer Systems, Inc, Fisher's Perkins Loan servicer. ECSI will contact you via email after part-time enrollment ceases regarding exit counseling and repayment.

Perkins Sample Repayment - 10 Year Term

Perkins Sample Repayment Amount
Original Principal Monthly Payment Amount
$4,800 $50.91
$6,800 $72.12
$8,800 $93.34

Apply for a Perkins Loan

Please follow the process to complete the Perkins Loan entrance counseling (federal requirement) and sign an electronic Master Promissory Note (e-MPN). If you should have questions or problems during the e-sign process, please call our servicer, ECSI, toll-free at 1-888-549-3274. Please allow 1 week processing time.

  1. Complete the FAFSA.
  2. Accept the Perkins Loan offer on Fish 'R' Net.
  3. Wait 2-3 business days (this will allow us to send a file to ECSI that you are interested in borrowing the Perkins Loan).
  4. Complete the Perkins Loan entrance counseling and master promissory note (e-MPN). Once you begin the process you must finish it or completely start over. It will take approximately 20-25 minutes.