Office of the Bursar

Federal Perkins Loan

Perkins Master Promissory Note and Completing the Entrance Interview

Heartland ECSI (Educational Computer Systems, Inc.) has both the Promissory Note and Entrance Interview on-line. If Xavier's Office of Student Financial Services lists the Federal Perkins Loan on your award letter, you will need to electronically sign the Promissory Note and complete the Entrance Interview. Go to


Interest shall accrue from the beginning of the repayment period and shall be at the annual percentage rate of five percent (5%) on the unpaid balance. No interest shall accrue during any grace or deferment period.


Your first payment will be due one month after your nine (9) month grace period ends. The amount borrowed must be repaid within ten (10) years after the date on which repayment begins unless that period is shortened or extended by specific provisions of the Promissory Note. The minimum monthly payment will be at least $40.00. It may be more if the amount borrowed is sufficient to require larger payments. You will be billed on the 15th of each month with your payment due on the 1st of the following month.


The borrower may prepay all or any part of the principal plus any accrued interest at any time without penalty. If you prepay more than the amount due for an installment, the excess will be used to repay principal unless you designate it as an advance payment on the next regular installment.

Credit Bureau Reporting

Per federal regulations, the Perkins loan is reported to the credit bureaus.


The borrower should refer to their Promissory Note for the specific deferments/cancellations available to them. A chart of deferments/cancellations for all Perkins loans can be obtained by visiting For more specific information or deferment/cancellation forms please call the billing service representative at 1-888-549-3274. If at any time you think you are eligible for a deferment, cancellation, or postponement, please check the appropriate information on the back of your statement and mail it to ECSI, 100 Global View Drive, Warrendale PA 15086. In order to receive a deferment/cancellation, the borrower must use the proper form, immediately upon entry into eligible service or student status, along with any documentation required to prove that the borrower qualifies. The borrower may lose deferment/cancellation benefits if they fail to file the request on time.

Beginning July 1, 2006 Federal Perkins regulations changed to allow Military Deferments for borrowers with loan advances after July 1, 2001. This deferment applies only to borrowers serving on active duty and qualifying National Guard duty during a war, or other military operation, or national emergency. For more information, please go to the ECSI website at

Loan Consolidation

Consolidation of loans allows a borrower to combine different types of federal student loans to simplify repayment. (A borrower with just one federal student loan can also choose to consolidate it.) Both the Direct Loan Program and the FFEL Program offer consolidation loans, but they are very different. For a complete discussion, consult the STUDENT GUIDE to Financial Aid from the U.S. Department of Education. Copies are available in the Office of Student Financial Services or on the Department of Education's Web site:

Student loan Ombudsman

If you dispute the terms of your National Direct Student Loan (NDSL) or Federal Perkins Loan in writing and the holder of your loan is unable to resolve the dispute, you may seek the assistance of the Department of Education's Ombudsman. The Student Loan Ombudsman will review and attempt to informally resolve your dispute and may be reached by going to or by calling (877) 557-2575.

Exit Interview Information

The borrower must, without exception, report any of the following to Xavier University, Loan Collection Office, 3800 Victory Parkway, Cincinnati, OH 45207-3361, or call (513) 745-4833.

  • withdrawal from school
  • transfer to another school
  • drop below half-time status
  • name change
  • address change or your parents' address changes
  • social security number changes
By reporting the information above, the student and the billing service (Heartland ECSI) can keep each other informed. When a student separates from Xavier University i.e. withdraws, drops below half-time status, or graduates, the exit process begins. He/she can expedite the completion of the Exit Interview process by visiting and completing the Exit Interview on-line.