decorative-icon Perkins Loan Repayment



When a student receives a student loan, a master promissory note is signed obligating the student to repay the loan according to the terms of the note. The master promissory note is a legally binding document.

Perkins Loans, although a Federal program, are borrowed from and repaid directly to the University of Oregon. It is important not to confuse Perkins Loans with other student loan types, such as the Federal Direct Student Loans, Guaranteed Student Loans, private educational loans through banks, etc.

The borrower is obligated to repay the full amount of the loan even if the borrower has not completed the program, is unable to obtain employment upon completion, or is otherwise dissatisfied with or does not receive the educational or other services that the borrower purchased from the institution.

Perkins Loans cannot be "bought" by another lender as some other student loans may be, though they can be included in a consolidation loan or refinanced.Perkins Loans borrowed from different schools are never "combined" but are repaid to each school separately, although the payments can be pro-rated.

While a loan is in repayment status the interest paid on the loan may be income tax deductible as a qualified student loan. And, if the student loan is canceled, the student may not have to include any amount in income. A qualified student loan is a loan taken out solely to pay qualified higher education expenses. See the I.R.S. Publication 970, "Tax Benefits for Education" for more information.

Exit Counseling

When a student leaves the University of Oregon, or drops below half time enrollment, the loan is placed into repayment status. Repayment information will be sent from Heartland ECSI (ECSI) with instructions regarding the completion of exit counseling on-line.

Hearland ECSI (ECSI) is a billing service provider for the university. The exit counseling information includes the Schedule of Repayment/Truth in Lending Disclosure. The exit counseling must be completed even if the student will be returning to the University of Oregon at least half time, transferring to another school, or approved for deferment under other terms of the master promissory note. A transcript HOLD will be placed on the student record until the exit counseling is completed.

If you have a transcript hold due to Perkins/NDSL Exit Interview, please visit  to complete the unsigned Exit Interview.  Once this is completed the hold will be removed automatically on the following Monday at 1:00 pm Pacific time.

If you need help with the Heartland ECSI website please call Heartland ECSI toll free at 888-549-3274.

If you need further assistance regarding your loan or you have an urgent need for your transcripts, please contact our office at 541-346-3171.

Grace Period

The initial grace period is a 9 month time period after graduation or a student's last term of continous eligible enrollment during which a student is not required to begin repaying on a Perkins Loan. No interest accrues during this initial grace period.

The initial grace period begins the day a student leaves the University of Oregon or enrollment hours drop below half-time, whichever occurs first.

Billing Statements

Billing statements are sent as a reminder notice at least two (2) weeks prior to each payment due date. If statements do not reach borrowers due to Post Office problems, failure of borrowers to inform our office or ECSI of an address change, or other unforeseen reasons, a late payment is not excused. It is legally the responsibility of the borrower to ensure payments are made on time as scheduled.  Most borrowers are scheduled for monthly payments that are due on the first of each month. Some borrowers are on a quarterly payment schedule with payments due on the first of January, April, July and October. 

Late payments will result in additional interest and past due charges. Non-payment will eventually result in referral of the account to outside collections agencies, which may add at least 30% to the total needed to pay off the loan.

Protect your credit rating, loans are reported to national credit bureaus. If you are unable to make a payment as scheduled contact us at or 541-346-3171.

Payment Options

  • Electronic payments from a checking or savings account made online by the student using a bank account in the United States by logging into your ECSI account. UO School Code 7v, account number is your UO ID number or social security number.
  • MasterCard or Discover Credit Cards
  • Mail your payment with the statement and/or indicate your account number on your check to:
    University of Oregon
    c/o Heartland ECSI
    P.O. Box 718
    Wexford, PA 15090

Correspondence Address

Do not send payments to this address:

University of Oregon
c/o Heartland ECSI
P.O. Box 1278
Wexford, PA 15090

Toll free phone contact for ECSI: 888-549-3274

Toll free fax number for ECSI: 866-291-5384

Pay off a loan ahead of schedule

There is no pre-payment penalty for paying all or part of a Perkins Loan ahead of schedule. A borrower may also make early payments for future installments, up to one year in advance, with proper notification to ECSI. Without such notification, the additional amounts paid are applied as "extra" payments for the reduction of the principal and a regular installment payment will be due the next payment due date according to the usual payment schedule.

Loan Consolidation

It is possible to consolidate Perkins Loans into a Direct Consolidation Loan if borrowers include at least one Direct Loan or Federal Family Education Loan (FFEL) in their request. Perkins Loans cannot be included in a Direct Consolidation Loan by themselves. Furthermore, all Perkins Loans consolidated into the Direct Loan Program will be included in the unsubsidized portion of the Direct Consolidation Loan.

Borrowers should carefully weigh the advantages and disadvantages of including a Perkins Loan in a consolidation loan as benefits may vary depending on the lender. While the borrowers gain the benefits of the Direct Consolidation Loan Program, they also lose the benefits associated with the Perkins Loan Program.

We recommend that you consider the following points prior to making a decision:

  • Perkins Loans are eligible for additional benefits including forgiveness and deferment as well as cancellation benefits for performing certain kinds of public service or working in particular occupations. These benefits are lost when a Perkins Loan is included in a Direct Consolidation Loan.
  • Perkins Loans have a grace period of 6-9 months. When a Perkins loan is consolidated, any remaining grace period is lost.
  • Interest does not accrue when a Perkins Loan is placed in deferment. Since a Perkins Loan is included in the unsubsidized portion of a Direct Consolidation Loan, borrowers are responsible for interest that accrues throughout the deferment period.
  • Perkins Loans generally have a lower interest rate but have a less flexible repayment period of 10 years.

NOTE: Lower payments and extended repayment terms can increase the overall finance charges incurred over the life of the loan.

Find out more about consolidating your Federal loans at: 800-557-7392.

Effective May 18, 2014 Consolidation Process on Website

A consolidation applicant will use the new Direct Consolidation Loan application process on the Website

  • Has received a letter from the Dept of Education to initiate a new application on this website
  • Needs to take action on an application the applicant submitted via on or after January 2, 2014.
  • New applications

The Website is available at