When enrollment at Austin Peay ceases, 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. Please see the loan information page for grace period length and interest accrual information. After the grace period has ended, principal payments begin. Also due upon first payment is all interest accrued during the grace period.
Yes. Statements will be sent to you during the grace period that reflect accruing interest.
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 out one month in advance and payment is due the first (1st) of each month.
Send your payment to P. O. Box 4635/Perkins, Clarksville, TN 37044. Be sure to include your account number (social security number) on your check.
Yes. Our street address is 601 College Street, Browning 148B, Clarksville, TN 37044.
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 (ex.: to loans with higher interest rates, low balances), please indicate with your payment how you would like the additional funds applied.
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.
There are several options regarding repaying accrued grace and deferment period interest. Please contact our office for more details.
A borrower may have all or part of his or her Federal Perkins Student Loan cancelled for engaging in various types of employment or public service. Eligibility depends on specific loan program rules and dates of loan disbursements. Please see the cancellation page for more details.
Short-term deferments can be granted to assist borrowers through periods of temporary economic difficulty. Eligibility is determined by the Perkins Loan Office and all requests should be made in writing. For more information, please contact our office.
Only federal student loans (Stafford, Perkins, Nursing, e.g.) can be consolidated. There are several companies that specialize in student loan consolidation. Please see the loan consolidation page for more details.
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 1-877-557-2575.
You may view your Federal Perkins Student Loan online with ACS, our contracted billing servicer. You will receive monthly statements from ACS and you may mail your payments to them as directed on the statements. If you should have any questions or problems, you may contact our office by e-mail or phone.