Federal Perkins Loans - Undergraduates

Why is the Federal Perkins Loan program ending?

Technically, the program is not ending – but as of October 1, 2017 schools that participate in the Perkins Loan program lose the authority to award and disburse new loans.

The program was originally scheduled to expire back in 2014, but it received an automatic one-year extension until October 1, 2015. In 2015, the program was given a two year extension with the hope that in those two years, Congress with reauthorize the Higher Education Act and address all types of federal student loans, including the Federal Perkins Loan.

The Federal Perkins Loan Program provides low interest (fixed 5%) loans to help students finance the cost of post-secondary education. 

Perkins borrowers are eligible for loan cancellation for teacher service at low-income schools and under certain other circumstances specified in the law (HEA). Students may defer repayment of the loan while enrolled (at least half-time) at a post-secondary school. A borrower who has difficulty repaying a Perkins Loan should contact their school to find out if he or she is eligible for a deferment or forbearance based on economic hardship or other circumstances.

Middlebury partners with a third-party servicer, Heartland ECSI, to  manage your Perkins loans.

Students in repayment should visit Heartland ECSI to track their billing status.

Student Financial Services

Service Building
84 South Service Road
Middlebury College
Middlebury, VT 05753
P: 802.443.5158
F: 802.443.2065