Federal Perkins Loans are low-interest, long-term loans that were previously made through the university to help finance post-secondary educational costs. These loans were funded through matching funds from the federal government and Indiana State University. Although Perkins Loans are federal loans, Indiana State University is the servicer, and all payments are made directly to ISU. All Perkins Loans are reported to credit bureaus from your first disbursement to the time you pay the loan in full.
For assistance with questions/concerns or to update your personal information (e.g., withdraw from the University, transfer, drop below half-time enrollment, name change, Social Security Number change, address change, join the military, etc.), please contact our office at 812-237-3511.
The interest rate is 5% fixed and is charged on the unpaid principal balance of the Perkins Loan.
A 9-month grace period begins when enrollment ceases, or enrollment drops below half-time status. Half-time status (determined by the Registrar's Office) is 6 credit hours for undergraduate students and 5 credit hours for graduate students.
Repayment of the Perkins Loan begins when the grace period expires. The monthly payment amount depends on the total amount borrowed.
Payments are due on the 15th day of each month.
Indiana State University mails statements each month.
If you fail to receive a statement, payment is still due.
Payments via paper check or money order can be mailed to the following address:
Indiana State University, Office of the Controller, Parsons Hall, 200 N 7th Street, Terre Haute, IN 47809
Please include your student identification number on your check or money order.
Payments using Visa, MasterCard or Discover credit/debit cards may be made online.
An online Perkins loan payment option is available at www.indstate.edu/payperkins.
Online payments made will only be applied to the current installment due.
To obtain the amount of your current installment due, please review your monthly billing statement or call our office at 812-237-3511 to speak with an account analyst.
NOTE: Any amount over your regular monthly installment amount will not be applied to future installments.
Delinquent loans are first assigned to ISU's in-house collections department.
Students with delinquent loans may lose rights to eligible benefits, may have the delinquency reported to national credit bureaus, or have the Perkins Loan(s) assigned to the Department of Education.
NOTE: If your loan has been assigned to the Department of Education, payments should be mailed to the following address:
U.S. Department of Education
ECSI Federal Perkins Loan Servicer
P.O. Box 6200-31
Portland, OR 97228
For assistance with questions/concerns, please contact our office at 812-237-3511.
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