Federal Perkins Loan

Named after Carl D. Perkins, this was a need-based student loan funded by the U.S. Department of Education and serviced by Manhattan College.  This program is no longer a funding source for students.  The information provided on this page is for borrowers who still have an outstanding loan balance owed to Manhattan College.

Federal Perkins Loan Information

The Federal Perkins Loans are low-interest, long-term loans made through the College to help students pay for college. 

Interest Rate

The annual interest rate charged on the unpaid balance of the Federal Perkins Loan is 5%. The interest rate was disclosed on the borrower’s promissory note, repayment schedule, and the statement of rights and responsibilities provided to the borrower at the time the loan is disbursed and during the exit interview.

Grace Period

The term “grace period” refers to the period of time before the borrower must begin repayment of a student loan. Grace periods begin when a student ceases to be enrolled at least half-time, withdraws, or graduates from the college. During the grace period, there is no interest accumulating and there are no payments required.

Loan Repayment

Repayment of a Federal Perkins Loan begins when the grace period ends. At the time a borrower drops below half-time enrollment or leaves Manhattan College, the College sends the borrower information to complete an online exit interview. During the interview, pertinent information and a repayment schedule are provided to the borrower. The repayment period may not exceed 10 years.  Please visit the Heartland ECSI website for more detailed information.

Heartland ECSI sends monthly statements to loan borrowers. Please note that payment of your debt is not contingent upon receipt of a statement. Remember, one of the terms of the promissory note is to update your address information with Manhattan College, to ensure that you are billed timely.  If you do not receive a statement, you should mail your payment to the loan servicer, Heartland ECSI. Please include your loan number on the check to insure that it is posted properly to your account.

Payment should be mailed to:

Manhattan College
c/o Heartland ECSI
P.O. Box 718
Wexford, PA 15090


A deferment allows you to defer your loan payments for a specified period of time. More information on deferments can be found on the Department of Education’s website or https://heartland.ecsi.net/.

To Apply for a Deferment

You may contact Manhattan College at 718-862-7100 for assistance with a deferment. You will need to supply documentation to support your request. You must submit these forms in a timely manner. It is important to follow up on your paperwork. If you do not get confirmation from us in a reasonable amount of time, it could be that we have not received your paperwork. For forbearance information, please contact Heartland ECSI at 1-888-549-3274 or log in to your account through the Heartland ECSI website (https://heartland.ecsi.net/).

It is not our responsibility to follow up on paperwork.  Please note – when you default on your loan, you lose your rights to deferments and cancellations.

**Important: Be sure to continue making your regular loan payments while your deferment is being reviewed and processed. Late payments may affect your credit rating.

  • Time Limit: The maximum length of time for deferments varies, depending upon your situation and the type of deferment you have. You won’t be able to get another deferment of the same type if you have used the maximum term.
  • Keep a copy of each deferment form and any other deferment correspondence with your records.


The Federal Perkins Loan contains special provisions allowing borrowers to defer payment or cancel portions of the loan for specific services performed by the borrower.

Deferments may be processed for the following reasons:

  • In school at least half-time
  • Graduate fellowship programs
  • Rehabilitation training programs
  • Peace Corps/VISTA/ACTION volunteer

Partial cancellations may be processed for services performed by the borrower in the following fields:

  • Teacher of a low-income school
  • Teacher of handicapped children
  • Teacher of a school funded by the Bureau of Indian Affairs
  • Teacher of a shortage area (math, science, foreign language, bilingual teacher, or a teacher in an area certified by the appropriate state agency as a shortage area)
  • Head start teacher
  • Nurse/Med tech
  • Law enforcement/Corrections officer
  • Family service agency (high-risk children/low-income communities)
  • Early intervention (Ages 0-2 years)
  • Peace Corps/Domestic volunteer service
  • Military combat for at least one year in an area of hostility/imminent danger
  • Firefighters
  • Attorney in a public defender office
  • Librarian
  • Speech/Language pathologist
  • Staff at state-licensed or regulated pre-K/child care program

How to Apply

Cancellation forms may be downloaded through Heartland ECSI (https://heartland.ecsi.net/). You may also call them at 1-888-549-3274. Similar to a deferment, you will also need to supply documentation or certification to support your request. Please make sure the forms are completed in their entirety. Remember to request a deferment in anticipation of your cancellation every year along with the cancellation request.  

You must complete one full year of service to be eligible for cancellation of a portion of your Perkins loan. However, if you do not complete your one year of service, you may be eligible for a deferment during that time period.