Federal Perkins Loan
Federal Perkins Loan Program
The Federal Perkins Loan is a low-interest loan for students demonstrating great financial need. Currently, Perkins funding is limited and is available to undergraduate students and, in some instances, law students. The annual interest rate charged is currently 5% and is stated on the promissory note. Repayment of your Perkins loan usually begins 9 months after your last date of attendance or the date you drop below half time enrollment.
The lender for your Federal Perkins Loan is Gonzaga University; however payments will be made to a billing service, Campus Partners. Repayment of your Federal Perkins Loan begins when your grace period ends. Although repayment of your loan is not required while you're in school, we recommend that you begin planning and reviewing your options for repaying your loans ahead of time.
Questions or concerns with billing or repayment of your loans should be directed to:
Institutional Loan Office
502 E Boone Ave
Spokane, WA 99258-0072
Telephone: 509-313-6811 or 800-986-9585 x6804 or x6811
Any time you are unable to make payment on your loan, you must contact this office. Failure to do so may result in your entire loan balance and interest becoming due and payable.
There are some circumstances in which your Perkins loan may be canceled or discharged. Application for cancellation or discharge must be completed through our loan servicer, Campus Partners. Additional information can be found through Frequently Asked Questions.
Cancellation types include, but are not limited to:
- Peace Corp
- Total and Permanent Disability
Deferment and forbearance options are available if you are having difficulty making your loan payments. Choosing one of these options will help you avoid defaulting on your loans while alleviating the financial strain you may be experiencing during a time of hardship. Be sure to continue making payments while your deferment or forbearance request is being processed and be sure stay in contact with your servicer during this time.
Forms to request a Deferment or Forbearance are available through Campus Partners. Completed forms should be faxed to Campus Partners at 336-607-2093 or mailed to:
c/o Campus Partners
PO Box 2901
Winston-Salem, NC 27102-2901