Federal Perkins Loan

In school with Federal Perkins Loan

Federal Perkins Loans are awarded through the Financial Aid Office and are based on the applicant's need and the availability of loan funds. If a student is awarded a Federal Perkins Loan then they are required to complete the Perkins Entrance Interview and also sign the Master Promissory Note electronically.

Each student will be notified by e-mail through their university email account with instructions on how to complete the Entrance Interview. Entrance Interviews and Promissory Notes are signed electronically at www.signmyloan.com.

Once on the site, the student will be required to authenticate themselves by providing personal information creating a username and a password. Please be sure to follow the directions and format for each step. The email required include the small s and the student's ID number @mail.niagara.edu. This login will be used for future years if you are awarded a Federal Perkins Loan. Once authenticated, the entrance interview will begin. The borrower will be required to provide three references and to read and acknowledge all required forms. The interview will be completed once the terms are accepted and the Master Promissory Note is signed electronically. If the student is having difficulties, they may contact the Student Accounts Office for assistance at 716.286.8300.

Once verification is received of the completed interview, the amount awarded will be disbursed by term to the borrower's student account.

If a student is awarded a Perkins Loan any subsequent years, they will not need to complete the entire interview but must review and accept the award each year.

Federal Perkins Repayment

Once a student graduates or is no longer registered for six credit hours or more, the loan enters into repayment. Federal regulations require an exit interview be completed and the borrower will receive a letter by mail to complete this requirement at www.uasexit.com.

As Niagara University is the lender of the Perkins Loan, we contract with University Accounting Services (UAS) for billing and processing payments along with deferments and cancellation requests. Payments may be remitted online at www.uasecho.com. Electronic checks and credit cards are accepted.

Federal Perkins has a fixed 5 percent interest rate and the grace period is 9 months during which no interest accrues. Late penalties will be assessed if the borrower fails to remit a payment on time.  



Unlimited Deferments

  • In School Deferments — If the borrower is enrolled half-time or more at an educational institute other than Niagara University, the Perkins Loan will be deferred with verification of enrollment.  
  • Armed Service (Military) - Unlimited deferment for Perkins Loans is available to Armed Forces Reservists and National Guard personnel called to active duty, and to regular military personnel assigned to duty stations other than their normal stations, due to war, military operation, or national emergency.

Limited Deferments
Additional deferments are available with a maximum of 36 months for the term of the loan:          

  • Economic Hardship
  • Unemployment
  • Forbearance

To request one of the limited deferments, a Financial Arrangement Form must be completed and submitted to Niagara University. This form can be found at: https://www.uaservice.com/Borrower-Student/Benefit_Forms.html. All completed Financial Arrangement Forms must be submitted to Niagara University for processing. They can be submitted to: Niagara University, PO Box 2004, Niagara University, NY 14109-2004.


Seriously delinquent Federal Perkins Loans may be rehabilitated. After 9 consecutive monthly payments your account is considered current and reported to credit bureaus and to National Student Loan Database (NSLDS) as such. You regain eligibility for Title IV Financial Aid and the balance of any deferment or cancellation benefits associated with your promissory note. For more information, contact UAS or Niagara University.  

Additional information on repayment options may be found at http://studentaid.ed.gov/repay-loans/default/get-out.