Perkins Loans Frequently Asked Questions

What happens with my student loans after I leave Austin Peay?

Your Perkins Loan will enter a grace period. During the grace period, no principal payments are due, but interest may accrue depending on the type of loan. Click on the “Terms and Interest Rate” tab to the left for grace period length and interest accrual information. After the grace period has ended, principal payments begin. Additionally, all interest accrued during the grace period is due upon first payment.

Can I pay the grace period interest as it accrues?

Yes. You will receive statements reflecting the accruing interest.

How do I make payments?

You will receive monthly statements from ACS, our contracted billing servicer. You may mail payments to ACS as directed on your statement, pay online at www.acs-education.com or pay at the APSU Perkins Loans Office, located in the Browning Administration Building.  If you have any questions or problems, contact us at (931) 221-7680.  

Can I view my Perkins Student Loan account?

You may view your Federal Perkins Student Loan online at www.acs-education.com. ACS is our contracted billing servicer.  If you have any questions or problems, contact us at (931) 221-7680.  

When are my payments due?

A repayment schedule for each of your loans will be prepared and sent to you shortly after you leave Austin Peay. Once repayment begins, billing statements are mailed one month in advance and payment is due the first (1st) of each month.

I need to make a payment but have misplaced my statement. What should I do?

Send your payment to APSU Perkins Loans, Box 4635/Perkins, Clarksville, TN 37044. Be sure to include your account number (Social Security number) on your check.

If it is after the due date, can I overnight my payment?

Yes. Our street address is 601 College St., Browning 148B, Clarksville, TN 37040.

How can I make extra payments to my loan account(s)?

Any payment received on an account that is more than what is due will be applied to the principal balance of the loans. The overpayment will be prorated across all loan accounts based on loan balances. If you would like the funds distributed in a specific manner (e.g., to loans with higher interest rates, low balances), please indicate with your payment how you would like the additional funds applied.

What if I want to make payments in advance for a period of time?

Please indicate with your payment the period of time that advance payments are to be made. The extra money will go into a suspense account from which future payments will be drawn. No billing statements will be generated during that time.

What types of deferment options are there on my loan and how do I apply?

Deferment options vary by type of loan. Please click on the “Deferment Options” tab to the left for more details. The deferment form is available on the back of your billing statement and also is posted under the “Forms” tab to the left.

I have been deferring my Austin Peay Perkins Loans for several months and more interest has accrued than I can afford to pay at one time. What can I do?

There are several options regarding repaying accrued grace and deferment period interest. Please call us at (931) 221-7680 for more details.

Am I eligible for partial loan cancellation?

A borrower may have all or part of his or her Federal Perkins Student Loan canceled for engaging in various types of employment or public service. Eligibility depends on specific loan program rules and dates of loan disbursements. Click the “Cancellation Benefits” tab to the left for more information.

Due to temporary financial trouble, I am unable to make my payments. What should I do?

Short-term deferments can be granted to assist borrowers through periods of temporary economic difficulty. The Perkins Loan Office determines eligibility and all requests should be made in writing. For more information, please contact our office at (931) 221-7680.

Can I have my loans consolidated?

Only federal student loans (Stafford, Perkins, Nursing, e.g.) can be consolidated. There are several companies that specialize in student loan consolidation. Click the “Loan Consolidation” tab to the left for more information.

Is there an independent office I can contact to resolve a dispute with my loan?

Yes, for federal loan programs only. The U.S. Department of Education Student Financial Aid Office of the Ombudsman works with student loan borrowers to informally resolve disputes and problems. The phone number is (877) 557-2575.