Federal Aid Programs

Federal Perkins Loan

The Perkins loan is a campus-based* loan available to qualified undergraduate students.   Students must have substantial financial need to be eligible for a Perkins Loan.   Loan amounts range from $500 to $2,500. The Perkins loan does not accrue interest. Payments are not due on the loan during the in-school period.   Repayment begins nine months after the student leaves school and 5% simple interest is charged on the unpaid balance of the loan.  The Perkins loan is made with government funds, and the University contributes a share.  Repayment of the Perkins loan is managed by the Student Loan Service Center at SUNY Central Administration. If you have questions regarding repayment of your Perkins loan or a problem with delinquency of your Perkins repayment, contact the Student Loan Service Center at (518) 525-2626. Perkins Promissory Note If you accept a Perkins Loan award and are a first time Perkins Loan recipient, you are required to sign a Perkins Promissory Note online.  You may complete the Perkins Promissory note as early as three days after you accept your Perkins award.  Please navigate your web browser to the following link: http://slsc.albany.edu/ecsi/prom.html. If you previously received a Perkins Loan and signed a paper Promissory Note, you must visit the Office of Student Accounts to complete a paper Master Promissory Note. Your failure to complete the applicable promissory note will result in the cancellation of your Perkins loan.   *Federally limited aid programs administered by the Office of Financial Aid are called Campus-based aid programs.   The federal government determines the amount of money the Office of Financial Aid can award to students.   When all the funds are exhausted, awarding of this aid program stops.