The Federal Perkins loan program is a limited availability, need-based, federal loan program. To qualify you must file a FAFSA and utilize your full Subsidized Stafford Loan Eligibility each year. Perkins loans are administered through the college and serviced by ECSI (Educational Computer Systems, Inc.). Perkins loans have a low fixed interest rate of 5 percent and can be awarded up to $4,000 annually. Actual loan amounts awarded are determined by the college and FAFSA information. Repayment begins nine months after ceasing to be enrolled as at least a part-time student.
Step 1: Maryville College Award Acceptance
If you are awarded a Perkins Loan, you must accept your award online through the Maryville College Online Financial Aid System: you must choose “accept” for the Federal Direct Stafford Loan before accepting the Perkins Loan, then accept all other aid and click on “submit” to finalize your acceptance. To access the website, you will need your MC Online Financial Aid Web ID and your MC Online Financial Aid System PIN.
If you need assistance with your Web ID or PIN , please call the Financial Aid Office at (865) 981- 8100.
Your Perkins Loan will not be disbursed to your Student Account until the Perkins Award has been accepted.
Step 2: Complete Entrance Counseling and sign MPN
After you have accepted your Perkins loan, you may complete your online entrance counseling and e-sign your Perkins Master Promissory Note (MPN) by clicking here or from the Maryville College On-Line Financial Aid System “Documents & Loan Information” tab. Your FAFSA Federal PIN will be required to electronically sign your Perkins Master Promissory Note. You will be required to sign the Perkins loan MPN only one time while continuously enrolled at Maryville College.
Your Perkins loan cannot be disbursed until the entrance interview and MPN have been completed.