A Federal Perkins Loan is a low-interest loan for students with exceptional financial need and who meet the Student Financial Aid Office’s Priority Packaging Deadline. The program is campus-based meaning that Point Loma awards the loan and takes care of repayment.  This loan program is currently available only to returning undergraduates.  

Funds are limited and not all qualified applicants will receive a Perkins loan. If you are awarded a Perkins Loan, it will appear on your award letter.  Because of the limited availability of funds, there is no guarantee that you will continue to receive Perkins Loan funding in subsequent years. 

Please contact an SFS Advisor to determine if you are eligible to apply.

  • Loan Amounts: Varies.
  • Interest: Fixed at 5%. Interest does not start accruing until nine months after the student graduates or the student's enrolled unit level drops below half-time status.
  • Repayment: Nine months after the student graduates or the student's enrolled unit level drops below half-time status. When a student goes into repayment, he will have up to 10 years to repay the loan. Perkin's Loans are considered Federal funds and therefore are subject to similar repayment guidelines as other federal loans.  Non-repayment of a Perkin's Loan must be reported by PLNU to the federal government and will affect your credit score.  PLNU is the lender for this loan, so repayment will be to the university or its servicer ECSI.

Entrance and Exit Counseling 

Entrance Counseling is required before Perkins' funds can be disbursed to your student account.  Exit Counseling is required when you have graduated, withdrawn, or enrolled for less than half time.  The purpose of loan counseling is to advise you of your rights and responsibilities for borrowing a Perkins' Loan, deferment and forbearance options, and repayment options.  Entrance counseling is completed at the time you sign the Perkins' MPN at www.ecsi.net.   For Exit Counseling, you will receive an e-mail from PLNU at the time of graduation, withdrawal, or enrolled for less than time, directing you online.