The lender for your Federal Perkins Loan is Gonzaga University; however payments will be made to a billing service, Heartland ECSI. 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. Loan payments are due the 15th of every month.
Questions or concerns with billing or repayment of your loans should be directed to:
Gonzaga Financial Aid Office
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, Heartland ECSI. Additional information can be found through the ECSI Help Center.
Cancellation types include, but are not limited to:
- Peace Corp
- Total and Permanent Disability
Deferment and Forbearance
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 Heartland ECSI, and completed forms should be faxed to 888-549-3274 or mailed to:
c/o Heartland ECSI
PO Box 1278
Wexford, PA 15090
Once your loan goes into repayment, if you do not make your scheduled loan payments, you run the risk of your loan going into default. If your loan has defaulted, a hold may be placed on your Gonzaga registration, transcripts, and diploma until the default has been cleared. All late payments are reported to credit bureaus and may affect your ability to receive other aid.
Consolidation is a process where you take out a new loan to pay off some or all of your existing federal student loans. There are many pros and cons to consolidation and you should do your research before pursing consolidation to see if it is the right choice for you. Beware of companies offering to lower your interest rate or get your loan canceled; these companies usually charge for loan consolidation, which you can do for free on your own.
If you choose to consolidate, you can complete the processes at Consolidate Your Federal Student Loans.