Loans

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Perkins Loans

(This program was terminated September 30, 2017; please read if you received this type of loan.)

The Perkins Loan is a low-interest (5 percent) loan for eligible undergraduate and graduate students with exceptional financial need. SDSU is the lender on the Perkins Loan. The loan is made from federal government funds and SDSU funds. If you qualified for a Federal Perkins Loan, detailed information was available in your aid package for that academic year.

If your financial aid award included a Federal Perkins Loan, you must complete an exit loan counseling session and sign your disclosure statements. The exit loan counseling session provides you with valuable information regarding the provisions of the loan, your rights and responsibilities related to the loan, and your repayment terms. Counseling and the signing of your documents are completed on-line.

When the documents are ready, you will receive an email notification from SDSU’s billing servicer, Heartland Educational Computer Systems, Inc. (ECSI). Information about how to access and complete your exit loan counseling will be included in the email. A hold will be placed on your records until the exit is completed.

Federal Perkins Loan funds disbursed to you fall under the provisions of a Master Promissory Note. This means that it was not necessary to sign the note each year that you are awarded a Federal Perkins Loan, but you could be required to update some forms. It is imperative that you read and complete all documents immediately to ensure timely repayment of your loan. Your hold will not be released until all electronic documents are filled out completely and accurately.

If you do not wish to complete this process online, you must contact Bursar’s Office and speak to an account analyst. Please be aware that requesting paper documents may lengthen the processing time and could delay the release of your holds.

ECSI will notify SDSU once all forms are completed and signed.

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The Perkins Loan Program

At the end of the 2017-2018 academic year, the Department of Education terminated the disbursing of new Perkins Loans. Schools are assigning accounts to the Department of Education. If your loan is assigned to the Department of Education, it will become ineligible for deferments, forbearances, cancellations, and consolidation. If you receive a letter from our office, please contact us.
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Consolidation

Consolidation is intended to make payments easier by allowing you to combine several loans with varying payment schedules and interest rates into one convenient payment. By extending your loan period, monthly payments are lower and often more manageable. This can be a perfect solution for borrowers who owe large
sums of money on several student loans, or who have high monthly payments, or several loans with different lenders. More information on consolidation can be found at the Department of Education.

Review your aid history on the Department of Education's National Student Loan Data System.

 

University Long Term Loan

The University Long Term Loan is to assist addressing the needs of students who find themselves in need of assistance but are unable to meet their needs through existing programs. SDSU is the lender on the University Long Term Loan. The loan is made from state government funds and SDSU funds. If you qualified for an University Long Term Loan, information was available to you via Financial Aid.


If Financial Aid awarded you the University Long Term Loan, you must complete entrance and exit loan counseling session. To accept your University Long Term Loan, you must log into your my.SDSU financial aid tile and accept the loan offer by the schools assigned deadline. You may decline the loan offer or accept less than what is offered to you, but funds are limited, and you may not be able to increase your loan at a later time. Students who accept the University Long Term Loan must complete a promissory note and entrance counseling. If you fail to complete all the required steps to receive your loan funds the loan by the assigned deadline, your loan may be cancelled. Funds are limited and you may not be awarded the funds again at a later date. Counseling and the signing of your documents are completed on-line. The exit loan counseling session provides you with valuable information regarding the provisions of the loan, your rights and responsibilities related to the loan, and your repayment terms. The exit loan counseling is completed on-line one you drop below 6 units, graduate, or leave school for any reason.

When the documents are ready, you will receive an email notification from University Bursar’s Internal Collections Account Analyst and/or Heartland Educational Computer Systems, Inc. (ECSI). Information about how to access and complete your loan documents and promissory note will given. This means that you may sign a note each year that you are awarded a University Long Term Loan and could be required to update some forms. It is imperative that you read and complete all documents immediately to ensure timely acceptance of your loan. Your loan will not be released until all electronic documents are filled out completely and accurately.

The exit loan counseling notification will be in email from ECSI and/or SDSU. A hold will be placed on your records until the exit is completed. It is imperative that you read and complete all documents immediately to ensure timely repayment of your loan. Your hold will not be released until all electronic documents are filled out completely and accurately.

If you do not wish to complete this process online, you must contact Bursar’s Office and speak to the Internal Collections Account Analyst. Please be aware that requesting paper documents may lengthen the processing time and could delay the release of your holds.

Dream Loans

The Dream Loan is a loan for eligible undergraduate students with a valid California Dream Act Application and a valid AB540 affidavit on file with the University. SDSU is the lender on the Dream Loan. The loan is made from state government funds and SDSU funds. If you qualified for a Dream Loan, detailed information was
available in your aid package for that academic year.

If your financial aid award included a Dream Loan, you must complete entrance and exit loan counseling session. To accept your Dream Loan, you must log into your my.SDSU financial aid tile and accept the loan offer by the schools assigned deadline. You may decline the loan offer or accept less than what is offered to you, but funds are limited, and you may not be able to increase your loan later. Students who accept the Dream Loan must complete a promissory note and entrance counseling. If you fail to complete all the required steps to receive your loan funds the loan by the assigned deadline, your loan may be cancelled. Funds are limited and you may not be awarded the funds again later. Counseling and the signing of your documents are completed on-line. The exit loan counseling session provides you with valuable information regarding the provisions of the loan, your rights and responsibilities related to the loan, and your repayment terms. The exit loan counseling is completed on-line one you drop below 6 units, graduate, or leave school for any reason.


When the documents are ready, you will receive an email notification from SDSU’s billing servicer, Heartland Educational Computer Systems, Inc. (ECSI). Information about how to access and complete your loan documents and promissory note will be done with ECSI. This means that you will sign a note each year that you are awarded a Dream Loan, but you could be required to update some forms. It is imperative that you read and
complete all documents immediately to ensure timely acceptance of your loan. Your loan will not be released until all electronic documents are filled out completely and accurately.

The exit loan counseling notification will be in email from ECSI or SDSU. A hold will be placed on your records until the exit is completed. It is imperative that you read and complete all documents immediately to ensure timely repayment of your loan. Your hold will not be released until all electronic documents are filled out completely and accurately.

If you do not wish to complete this process online, you must contact Bursar’s Office and speak to the Internal Collections Account Analyst. Please be aware that requesting paper documents may lengthen the processing time and could delay the release of your holds.

Exit Interview Counseling

What is Exit Counseling?

Exit Counseling is a required process to prepare you for repayment of your loan, inform you of the terms and benefits and provide updated contact information.

You will be prompted when your enrollment status changes and also when you apply for graduation.

Exit Counseling Requirements

Did you know? Federal Regulations require you to complete Exit Counseling:

  • Drop below half-time status
  • Transfer to another school
  • Graduate and not immediately return the following semester as at least a half-time student
  • Even if you have an approved leave of absence

For any of the following loans received while attending SDSU:

  • Federal Direct Loan
  • Federal Perkins Student Loan
  • California Dream Loan
  • University Long Term Loan

Complete Exit Counseling

Direct Loans

Perkins, Dream and University Long Term Loans

  • Heartland ECSI will send you notifications with a link to complete your Exit Counseling on ECSI’s website and SDSU will be notified when completed.
  • You can also login to ECSI: