Federal Perkins Loans
The Federal Perkins loan is a student loan where Providence College acts as the lender using a limited pool of funds provided by the Federal government. This loan is need based and is determined by the Office of Financial Aid based on the information provided on the FAFSA.
The interest rate is fixed at 5%.
Repayment of this loan begins 9 months after graduation or 9 months after a borrower ceases to attend Providence College at least half time.
Requirement Information for First Time Borrowers
If you have been awarded a Federal Perkins Loan by the Office of Financial Aid you are required to complete a Master Promissory Note (MPN) and Entrance Requirements. To complete both requirements visit www.signmyloan.com .
This website is through University Accounting Service (UAS), whom is partnered with Providence College for their administration services of the Federal Perkins loan.
Once on the www.signmyloan.com website, click on the gray box labeled 'Continue'. On the next screen, click on the gray box labeled 'Create Online Account'. Enter in the required information as follows:
o Identification Number = Borrowing student’s social security number
o Postal Code = Borrowing student’s zip code
o Date of Birth = Borrowing student’s date of birth mm/dd/year
o Driver License Number = Enter ‘none’
o Email Address = Borrowing student’s PC email address
o Username = Borrowing student needs to create with the criteria noted
o Password = Borrowing student needs to create
o Verify Password = Re-enter borrower created password
o Question = Borrowing student must select a security question
o Answer = Borrowing student must enter answer to above security question
o Verify Answer = Re-enter borrower created security answer
Then click 'Continue'. The website will lead you through the requirements.
The entrance counseling requirements are federal requirements that every new loan recipient must complete. This process is designed to make sure the borrower understands the terms and conditions of the loan. Please read this information carefully.
This website allows you to complete and sign a MPN over the internet. This note will be used for all of your Federal Perkins Loans for your four years at Providence College . In future years you will not be required to sign another master promissory note. However, you will need to log into this system at the beginning of every school year to accept your loan.
Previous Borrowers (Returning students awarded Perkins loans)
In previous academic years, you logged in to accept your Federal Perkins loan by using your FAFSA pin. Effective May 2015, the US Department of Education is no longer using FAFSA pins.
In order to accept your Federal Perkins loan for the 2015-2016 academic year, you need to follow the above steps under 'Requirements for First Time Borrowers' to create an online account. For the required information of 'drivers license number' if you entered your license number when you signed for this loan last year, please enter the number. If you did not enter it, please type in 'none'.
If any assistance is needed creating an online account at www.signmyloan.com please contact our loan servicer, University Accounting Service, at 1-800-999-6227.
Providence College is the lender for the Federal Perkins loan. This loan enters repayment 9 months after graduation or 9 months after the borrower ceases to attend school at least half time. University Accounting Service (UAS) is the servicer for the Federal Perkins loan. You can access your account online at www.uasecho.com . You can also access loan information and deferment forms online at www.uaservice.com .