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If you are having trouble making your Federal Perkins student loan payment, immediately contact ECSI at (888) 549-3274 and speak with a customer service representative. You may also call or email the Loan Office at loansinrepayment@lmu.edu. You may qualify for a deferment or forbearance. Supporting documents are required for all deferment and forbearance requests, and must be submitted to ECSI or the Loan Office in a timely manner. It is important to take action before late fees are charged. Please contact the Loan Office or ECSI for further details.
Deferment
A deferment on the Federal Perkins Loan is a temporary postponement of the loan payment and interest. A deferment may be granted at the option of the loan holder, if the borrower is:
- Enrolled in school
- Unemployed
- Experiencing financial economic hardship
Deferments are granted in intervals of up to 12 months, and may not exceed 3 years. To request an unemployment or economic hardship deferment, complete the application below and provide supporting documents. You must continue to make payments until you have been notified a deferment has been granted.
- Unemployment Deferment [PDF]
- Economic Hardship Deferment [PDF]
Forbearance
Forbearance on the Federal Perkins Loan is a temporary postponement of the loan payment. During forbearance, interest continues to accrue, and is due per the forbearance agreement. A forbearance may be granted at the option of the loan holder, if the borrower does not qualify for a deferment. Forbearance is granted in intervals of up to 12 months, and may not exceed 3 years. To request a forbearance, complete the application below and provide supporting documents. You must continue to make payments until you have been notified a forbearance has been granted.
- General Forbearance [PDF]
Under certain circumstances a borrower may be granted a mandatory forbearance. Circumstances include borrowers who:
- Are in a medical or dental internship or residency.
- Have student loan payments that are 20 percent or more of their monthly income.
- Have payments being made for them by the Department of Defense.
To request a mandatory forbearance, complete the application below and provide supporting documents. You must continue to make payments until you have been notified a forbearance has been granted.
- Mandatory Forbearance [PDF]
Cancellation
Under certain circumstances, a Federal Perkins Loan may have a percentage of the loan, including interest, cancelled. If you believe your Federal Perkins Loan may qualify for a cancellation, click here to access the appropriate deferment/cancellation request form. For additional information contact the Loan Office or ECSI.
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If you are having trouble making your Institutional Loan payments, immediately call or email the Loan Office at loansinrepayment@lmu.edu. You may qualify for a deferment or forbearance. Supporting documents are required for all deferment and forbearance requests, and must be submitted to the Loan Office in a timely manner. It is important to take action before late fees are charged. Please contact the Loan Office for further details.
Deferment
A deferment is a temporary postponement of the loan payment, and interest if applicable. A deferment may be granted at the option of the loan holder, for the LMU California, Fritz B. Burns, and Jack Shandler Institutional Loans, if the borrower is:
- A full-time undergraduate student at LMU.
- A full-time graduate student at an accredited college or university (may not exceed 3 years).
- Serving in the Military (deferments may not exceed 3 years).
- Suffering from a disabling illness and has demonstrated such to the satisfaction of the holder (may not exceed 2 years).
- Experiencing financial economic hardship (may not exceed 2 years).*
Deferments are granted in intervals of up to 12 months, and may not exceed the time indicated above.
Forbearance
Forbearance is a temporary postponement of the loan payment. During forbearance, interest continues to accrue, and is due per the forbearance agreement. A Forbearance may be granted at the option of the loan holder, for the Fritz B. Burns and Jack Shandler Institutional Loans, if the borrower or cosigner do not qualify for a deferment. The LMU California Institutional Loan is a 0% interest loan, and does not qualify for forbearance. Forbearance is granted in intervals of up to 12 months, and may not exceed 3 years. To request a forbearance, both the borrower and the loan cosigner are required to complete the Institutional Loan-Economic Hardship deferment/forbearance application below and provide supporting documents. You must continue to make payments until you have been notified a forbearance has been granted.
*Economic Hardship Deferment
In order to qualify for an Economic Hardship Deferment, both the borrower and the loan cosigner must be experiencing financial difficulties. Both will be required to complete the deferment application below, which pertains to the Institutional Loan type, and provide supporting documents. You must continue to make payments until you have been notified a deferment/forbearance has been granted.