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Colorado State University Logo

Federal Perkins Loans

Department: Student Loans Receivable
Location: 1st Floor Howes Street Business Center
Mailing Address: 6024 Campus Delivery, Fort Collins, CO 80523-6024
Business Hours: Monday - Wednesday, & Friday 7:45am - 4:45pm; Thursday 9am - 4:45pm
E-mail: AROperations@colostate.edu
Phone: (970) 491-6467

 

Perkins Loan Rehabilitation

The U.S. Department of Education has implemented a change to the Perkins Loan Regulations that allows rehabilitation of defaulted Perkins Loans. If your Perkins Loan with Colorado State University is in default please read the information below.

Rehabilitation Provisions and Benefits:

Perkins Loan borrowers in default may rehabilitate their loan by making 12 on-time, consecutive monthly payments for the amounts owed on the loan as determined by Colorado State University. After the 12th on-time payment, Colorado State University will request that all defaults are removed from the borrowers's credit history. In addition, the borrower will be returned to regular payment status, and all University holds (placed on account as a result of the loan delinquency) will be removed. The borrower will also begin a new 10 year repayment program including the 12 payments made during the 12 month rehabilitation. Eligible borrowers are given a one-time opportunity to complete a rehab. Once a borrower successfully completes a rehab the borrower is unable to participate in another rehab program.

Borrower Responsibilities:

To take advantage of this new loan rehabilitation provision, you must contact Student Loans Receivable and request rehabilitation, make 12 on-time payments for the exact amount prescribed in the signed rehabilitation agreement, and comply with all provisions stated in the original Perkins promissory note.