E-Sign Portal

UCLA Student Loan Services and Collections - E-Sign Online

Perkins Loan Extension Act of 2015

Potential borrowers of a Federal Perkins Loan please note:

  • If you were planning to e-sign a Perkins Loan Master Promissory Note, please read the ALERT concerning the Perkins Loan Submission Deadline found near the bottom of this page.

  • If your are NOT planning to e-sign a Perkins Loan Master Promissory Note, you may scroll to the bottom of this page for instructions on how to proceed with the e-sign process for any University / Health Profession / Dream Loan for which you plan to e-sign.

 


 

Federal Perkins Loan Disclosures

On December 18, 2015, Congress enacted the Federal Perkins Loan Program Extension Act of 2015, which extends the current Perkins Loan Program through September 30, 2017.  The purpose of these disclosures are to provide you with important information regarding the program:

 

  • The Federal Perkins Loan Program will end on September 30, 2017.  No new Perkins Loans will be made on or after October 1, 2017.


  • Federal Perkins Loans are not eligible for the repayment and forgiveness benefits available to borrowers of loans made under the Federal Direct Loan Program.

    For more information on repayment plans, please visit https://studentaid.ed.gov/sa/repay-loans/understand/plans.
    For information on forgiveness benefits, please visit https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation.


  • As a Federal Perkins Loan borrower, you have the option to consolidate your Perkins Loan into a Federal Direct Loan.  A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan with a single monthly payment, and can lower your monthly payments by extending your repayment period up to 30 years.  However, if you increase the length of your repayment period, you will also make more payments and pay more in interest.

    Consolidating your loans may also allow you to take advantage of alternative repayment plans that prior to consolidation would not have been available to you.  If you have variable or varying interest rate loans, you’ll be able to switch them to a single, fixed interest rate loan.

    Before consolidating your qualifying loans, you also should consider the impact of losing any borrower benefits offered under the original loans such as interest rate discounts, principal rebates, or loan cancellation benefits.  These types of benefits can significantly reduce the cost of repaying your loans.  You may lose those benefits if you consolidate.

    Once your loans are combined into a Direct Consolidation Loan, they cannot be removed/reversed.  The loans that you consolidate no longer exist as they are paid off by your new Direct Consolidation Loan.

    For more information on loan consolidation, please visit https://studentaid.ed.gov/sa/repay-loans/consolidation.


  • If you are a new Perkins Loan borrower, a Federal Perkins Loan will only be offered to you if you meet the school’s eligibility requirements and have reached the annual borrowing limits for which you are eligible on Federal Subsidized and Unsubsidized Direct Loans.  If you are a continuing Perkins Loan borrower, a Federal Perkins Loan will only be offered to you if you have reached the annual limits on Federal Subsidized Direct Loans.


  • A chart comparing the interest rates of the various federal loan programs for the 2017-18 academic year, running from July 1, 2017 through June 30, 2018, is provided below for your reference:

 

Loan Program 2017-18 Academic Year Interest Rate
PERKINS
for Students
5.00% Fixed

DIRECT
for Students
4.45% Fixed       Undergraduate subsidized
4.45% Fixed       Undergraduate unsubsidized
6.00% Fixed       Graduate unsubsidized
PLUS
for Students
7.00% Fixed       Federal Direct Loan

 

 

  • A chart comparing the interest rates of the various federal loan programs for the 2016-17 academic year, running from July 1, 2016 through June 30, 2017, is provided below for your reference:

 

Loan Program 2016-17 Academic Year Interest Rate
PERKINS
for Students
5.00% Fixed

DIRECT
for Students
3.76% Fixed       Undergraduate subsidized
3.76% Fixed       Undergraduate unsubsidized
5.31% Fixed       Graduate unsubsidized
PLUS
for Students
6.31% Fixed       Federal Direct Loan

 

 


 

 

ALERT: Perkins Loan Submission Deadlines

To best ensure the necessary system processing time to meet the Federal Perkins Loan Program disbursement deadline, please e-sign your Perkins Loan Master Promissory Note by no later than Friday, September 22, 2017.

If you were not able to authenticate and e-sign your promissory note, come to the Loan Services Office, A-227 Murphy Hall, no later than Tuesday, September 26, 2017, where you will be provided an official paper version of your Perkins Loan Master Promissory Note that you will sign in the presence of one of the office staff.  Please be certain to have already completed the other online steps involved in the Perkins Loan e-signing process for swifter handling when visiting the office.

 

To Continue

  • If you wish to proceed to the Heartland ECSI website and complete the e-sign process, CLICK HERE.  (REMEMBER: If you are NOT able to authenticate and e-sign, DO NOT PRINT THE PROMISSORY NOTE.  Instead, please complete the other online steps involved in the e-sign process; then go to the Loan Services Office, A-227 Murphy Hall, and have your promissory printed for signing to ensure accuracy, uniformity and more efficient processing.)


  • If you do not wish to proceed, please return to the home page of the Student Loan Services & Collections website.

 

*For help in navigating the Heartland ECSI website or problems with your ECSI PIN,
you may contact Heartland ECSI at 888.549.3274.

 

 

For other question regarding this E-Sign Portal page, you may contact the
UCLA Loan Services Office through the UCLA Message Center at:

https://sa.ucla.edu/MessageCenter/OneStop/Home/PostMessage?topicId=254

or call us at 310.825.9864 and select option '8'.