Federal Perkins Loan Program (FPL)
The Federal Perkins Loan Program provides low-interest loans to help needy students finance the costs of college education. Chowan University may issue a FPL to a student on a case-by-case basis. Students must have completed a FAFSA for the current school year in order to be considered for eligibility.
FPL Fast Facts
Before Receiving a FPL
Important Points to Remember
After Leaving School
The Perkins Loan Coordinator will contact you by email or mail at the time you leave to remind you to complete the on-line exit counseling session. You will be asked to complete and return the following:
** A "HOLD" has been placed on your academic transcript in the Registrar's office until your Exit Interview and Repayment Schedule are completed and returned to this office for your loan file. This means that if you decide to attend another university or institution, or apply for employment which requires a copy of your academic transcript, your academic transcript will not be released to you or the university/institution or employer until this office receives your completed and signed Loan Interview form and Repayment Schedule. ***
Campus Partners of Winston-Salem, North Carolina serves as our billing/depository agent for your Federal Perkins Loan. This means they will bill you, credit your payments, and process deferment/cancellation forms to your account. If you have special problems with your loan, you may contact Mrs. Twyla Duke, Federal Perkins Loan Coordinator at 252-398-6320 or firstname.lastname@example.org.
What If I cannot make my payments?
If, for some extraordinary reason such as illness or unemployment, you cannot meet the terms of your repayment agreement, you should contact the Federal Perkins Loan Coordinator to make other arrangements.
Under some circumstances, you may be granted forbearance and be allowed to make payments of a lesser amount or you may qualify for a deferment. You must apply for each in writing and must continue to make your regular payments until your request is granted.
***It is important to maintain contact with your Student Loan Office if you cannot make your payments. Serious consequences can occur for failure to make payment on your loan. ***
You are eligible to consolidate your outstanding federal student loans and FPL if you are in your grace period or already in repayment on your student loans. With only one lender and one monthly payment due for student loans, it is easier than ever for borrowers to manage their debt. Borrowers have only one lender, the U.S. Department of Education, for all loans included in a Direct Consolidation Loan. Visit Direct Loan Consolidation to apply. Please remember you must still make your payments while your consolidation is being processed.
Failure to Make Payment
Failure to make a payment means to default. If that happens, you may be asked by the school to repay the entire loan immediately and can be turned over to a collection agency in order to collect it.
You may be contacted by Todd, Bremer, & Lawson, Inc. or Williams & Fudge, Inc. regarding any defaulted loan turned over to collections. Please take all correspondence seriously!
Contact information for:
Todd, Bremer, and Lawson 1-800-849-6669
Todd, Bremer & Lawson, Inc.
Post Office Box 36788
Rock Hill, SC 29732-0512
Williams & Fudge, Inc. 1-800-849-9791
Williams & Fudge, Inc.
300 Chatham Avenue
Rock Hill, SC 29731