Important Information for students who
have been awarded a Federal Perkins loan
for the 2011-2012 academic year:
If you borrowed a Federal Perkins Loan at Belmont during the 2010-2011 academic year, you do not need to complete a new Master Promissory Note. If you wish to borrow less than the amount shown on your award letter, please notify the Office of Student Financial Services by completing the Loan Cancellation/Reduction Request Form.
The Perkins loan is a federally guaranteed student loan with a low interest rate of 5%. The interest does not accrue until repayment begins. Repayment will begin after a nine-month grace period once you cease being enrolled half-time.
We are providing you with the option of completing and signing the Federal Perkins Master Promissory Note and entrance counseling online. Below you will find all information pertaining to the acceptance and authorization for disbursement of your Federal Perkins Loan.
The electronic procedure for Perkins borrowers is as follows:
1. Log on to the website for Belmont's Perkins loan billing servicer (Educational Computer Systems, Inc.) website at http://www.ecsi.net/promm8.
2. Provide your social security number, last name, and date of birth.
3. Provide your FAFSA (Free Application for Federal Student Aid) PIN (Personal Identification Number) when requested on the Student Authentication Network page. (If you do not have a valid PIN, you must go to the Department of Education's PIN site at http://www.pin.ed.gov).
4. Most pages require that you accept the terms by checking a box at the bottom of the page.
5. You must provide complete reference information for yourself, next of kin and two additional references. Failure to complete all lines accurately will keep this loan from disbursing to your account.
6. PROMISSORY NOTE - Read completely. Electronically sign at the bottom of the promissory note page. The electronic signature includes a check off box plus your full legal name.
It is important that you complete this process as soon as possible. Your loan cannot be disbursed to your student account until all online documents are accurately completed. Also, please keep in mind that your loan cannot disburse prior to ten days before classes begin. Your electronic Federal Perkins Master Promissory Note will be reviewed by Student Financial Services before any funds are disbursed. If there are any issues, you will be notified by either email or a letter.
If you wish to borrow less than the amount awarded, or if you are not interested in borrowing the Federal Perkins loan, please complete the Loan Cancellation/Reduction Request Form. Please contact Student Financial Services if you have any questions.
The electronic procedure for Perkins Exit is as follows:
1. Log onto the website for Belmont's Perkins loan billing services (Educational Computer Systems, Inc.) website at www.ecsi.net .
2. Click on the 'Are you a Borrower' link and then on 'Login to My Account'.
3. Provide your social security number, your school code (M8), and your PIN. Please contact Student Financial Services if you need help with your PIN.Click on the 'Exit Interview' link to begin the exit process.