Perkins Loan Information

Name Changes

• Provide a marriage certificate or legal name-change order.
• Call, write, email, or fax your request.

Address Changes

Borrowers are responsible for keeping their mailing address current. Perkins Loan Services uses the Registrar’s “local address.” Failure to receive a statement does not remove your responsibility to pay on time.

• Indicate your new address on your payment coupon, or
• Update in UTDirect, or
• Call our office, and
• File a USPS “Change of Address.”

Loan Repayment Terms

• Repayment begins after your grace period.
• Payments are due on the 1st of each month.
• Monthly amount depends on total borrowed; repayment period may not exceed 10 years.
• Monthly statements are sent; non-receipt is not a defense for nonpayment.
• Mail payments with the statement coupon if paying by mail.

Perkins AutoPay

• Free Electronic Funds Transfer (EFT).
• Automatic, on-time monthly withdrawals.
• Posted to your loan immediately.

Note: If your loan enters deferment or forbearance, you must manually deactivate AutoPay. Funds withdrawn in error cannot be refunded.

Set up AutoPay (UT EID High Assurance required): utdirect.utexas.edu/acct/rec/autopay/. If needed, upgrade your UT EID. Or complete this DocuSign AutoPay form. Please allow 10 days; you’ll receive email confirmation.

Cash, Checks, or Money Orders

• Cash: pay at Cashier windows, Room 8, UT Tower.
• Checks/Money Orders: by mail or at Cashier windows.
• Payable to: The University of Texas at Austin.
• Include borrower name as on UT records and UT EID (if known).

If a personal check is returned for insufficient funds (NSF), personal checks won’t be accepted for 12 months.

Credit Cards

• American Express, Discover, MasterCard, Visa.
• Pay online via What I Owe (UT EID required), or
• Mail your payment coupon with credit card information for the exact amount.

Overview

Perkins offers several deferments. Each has its own form and may require documentation. Submit the appropriate form at the beginning of the benefit period. Late fees ($8/month) assessed before a deferment is processed must be paid before processing. Deferments are processed retroactively for up to two years from submission.

Deferments are followed by a grace period before billing resumes. No interest accrues and no payments are due during a deferment or its grace period. Some deferments are only available for loans made prior to July 1, 1993.

Deferments (No Cancellation)

Forbearance

Forbearance is a temporary pause of your monthly payments for up to one year at a time, not to exceed three years total. Interest continues to accrue monthly during forbearance; you may pay interest as it accrues, but it isn’t required. Unpaid interest is due at the end of the forbearance period.

• Submit a written request at the start of the benefit period using the Forbearance Request Form.
• Late fees assessed before approval ($8/month) must be paid before processing.
• Forbearance may be used for financial hardship, poor health, certain military/AmeriCorps service, mobilization, or national emergency service.

More info: Perkins Forbearance.

Defaulted Loans

“Default” means failing to make a payment when due or failing to comply with other terms of the promissory note or written repayment agreement. Payments are due on the 1st of each month. A late fee of $8 per month is added to each loan that is one month past due, and continued delinquency negatively affects your credit (UT reports monthly to the three major credit bureaus).

• If you’re eligible for a deferment, your credit file will be updated to show the deferment, but prior negative history is not removed.
• Contact our office immediately if you cannot make a payment—we can’t help unless we know there’s a problem.

More info: Perkins Defaulted Loans.

Loan Consolidation

Consolidation refinances multiple federal student loans into a single new loan with its own interest rate, terms, and monthly payment. Eligible loan types include Federal Stafford, Federal Direct, Federal PLUS, Federal SLS, Federal Perkins, Health Professions (HPSL), and Nursing (NSL) loans.

Consolidation can simplify repayment and may lower monthly payments, but you could lose some benefits tied to the original loans. Discuss options with your lender before applying.

Learn more and apply at studentaid.gov/manage-loans/consolidation or see Perkins Loan Consolidation.

Teaching

• Elementary or Secondary Schools Serving Low-Income Students
• Special Education
• Handicapped Education
• Fields of Expertise (shortage areas)
• Head Start Pre-School Program
• Tribal College or University
• Librarian (Title I schools/public library)
• Speech-Language Pathologist (Title I schools)

Other

• Child or Family Service Agency
• Early Intervention Services
• Law Enforcement/Federal Public Defender
• Firefighters
• Peace Corps/AmeriCorps*VISTA
• Military Service Cancellation
• Nurse or Medical Technician

Total & Permanent Disability (TPD)

“Total & Permanent Disability” means you’re unable to work and earn money due to an illness or injury expected to continue indefinitely or result in death. Apply through the Department of Education’s TPD servicer (Nelnet). UT may place your Perkins Loan on temporary suspension once notified of your intent, and you’ll typically have 120 days to submit required documents. Some approvals include a three-year conditional monitoring period; VA-determined disabilities are discharged immediately.

• Eligibility paths include physician certification, VA determination, or SSDI/SSI awards with next review in 5–7 years.
• During any conditional period, no principal or interest payments are required.

VA Disability

Borrowers with a permanent total disability rating from the U.S. Department of Veterans Affairs due to a service-connected condition qualify for discharge.

Death Discharge

Cancellation based on the borrower’s death requires an original or certified copy of the death certificate submitted to the school.

9/11 Public Service Discharge

Eligible for spouses of public servants who died or became permanently and totally disabled due to injuries from the September 11, 2001 attacks, if the loan was owed on September 11, 2001.

Privacy Act Notice (1974)

Authority to collect information (including SSN) derives from the Higher Education Act. Providing your SSN is voluntary but required to participate. Information is used to verify identity, determine eligibility/benefits (deferment, forbearance, discharge, cancellation), service your loan(s), and—if necessary—locate you and collect on delinquent/defaulted loans.

Routine uses include disclosures to federal/state/local agencies, contractors and servicers, credit bureaus, educational institutions, and others for program administration, counseling, collections, compliance, fraud prevention, litigation, congressional inquiries, and qualified research under Privacy Act safeguards.

Financial Privacy Act Notice (1978)

The U.S. Department of Education may access financial records in your student loan file as permitted under the Right to Financial Privacy Act to administer the Perkins Program.