Federal Perkins Loan Entrance and Exit Counseling

At this time, Perkins Loans are only available to students in our Traditional Programs. If you have questions about your eligibility, please contact the Financial Aid Office

The Federal Perkins Loan program provides low-interest loans to assist you in meeting your educational expenses. Repayment begins nine months after you graduate or leave school for other reasons. You will be charged 5 percent interest on the unpaid balance of the loan principal.

Entrance Counseling

Students who receive a Federal Perkins Loan must complete online entrance counseling the first semester they receive the loan.  This federal requirement ensures that students are aware of their borrowing rights and responsibilities before they enter into the loan obligation.  If you are a first time borrower, you must also electronically sign the Federal Perkins Master Promissory Note (MPN).  When these two federal requirements are completed, the loan amount will be credited to your student account.

Students must complete Federal Perkins Loan  Entrance Counseling online.  This must be done prior to the loan being applied to your student account balance.

Exit Counseling

Loan exit counseling is required for students who have received a Federal Perkins Loan during their enrollment at LeTourneau.  Federal Perkins Loan Exit Counseling must be completed by students who drop below half-time, take a leave of absence, withdraw, or graduate.  The online exit counseling session provides students with pertinent information regarding deferment and repayment provisions.

If you are graduating, this exit counseling must be completed prior to graduation.  Since LETU is the lender on this loan and all monies are owed to LETU, as per university policy, your diploma and/or transcripts may be held until this federal requirement is completed.

Students are required to provide names, addresses, and telephone numbers for parents and two personal references at different addresses (someone who would know your whereabouts if you move and forget to notify LETU of an updated address), and future employer if known.  The collection of this data is a federal requirement and all information provided will remain confidential.

Students must complete the Federal Perkins Loan Exit Counseling upon leaving LETU.

If you have any questions during or after completion of your Perkins Loan entrance or exit counseling sessions, please contact us directly in the Office of Student Accounts.

 

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