* Federal Perkins Loan and Future Eligibility:
The recently enacted Federal Perkins Loan Extension Act prohibits any further extensions of the Perkins Loan Program under section 422(a) of the General Education Provisions Act (GEPA). Schools may not make Perkins Loans to any student on or after October 1, 2017.
Students who borrow a Federal Perkins Loan for the first-time are required to complete entrance counseling. This requirement can be accomplished at: http://mappingyourfuture.org/oslc/counseling/index.cfm?act=Intro&OslcTypeID=3.
Students awarded a Federal Perkins Loan will be provided a Master Promissory Note (MPN) after the Business Office receives notification that entrance counseling is complete. Students who have not return the signed promissory note by October 1 may be subject to withdrawal of the award.
Business Operations Manager
P. O. Box 127 Hampden-Sydney, VA 23943
ACS Education Services
Campus Products and Services
P.O. Box 7060
Utica, NY 13504-7060
Under certain conditions, you may apply for a deferment of your Federal Perkins Loan. Deferment options include:
Under certain conditions, you may apply for cancellation of your Federal Perkins Loan. Cancellation provisions include:
A student who has borrowed a Federal Perkins Loan must have an exit interview before leaving Hampden-Sydney or in the event they register less than half time (less than six credit hours).
If you fail to make a scheduled payment when due, the school can declare your Federal Perkins Loan to be in default. You must submit a deferment and/or forbearance request on or before the due date of your scheduled payment. If you default on a Federal Perkins Loan and the school is unable to collect, it will harm your credit rating and the federal government may take action to recover the loan. You cannot receive further financial aid if you are in default.