Federal Perkins Loans
The Federal Perkins Loan is a campus-based Title IV federal student aid program, enabling eligible students to obtain low-interest loans through their school, to help pay the costs of postsecondary education. WPI is the lender. First-time Perkins Loan borrowers must complete a Master Promissory Note. This can be done online at the ECSI website. The U.S. Department of Education (ED) governs the program. This is a loan and must be repaid.
Institutional loans are WPI funds awarded to eligible students. WPI is the lender. First-time institutional loan borrowers must complete a Master Promissory Note and Disclosures. Disclosures must be completed each year. This can be done online at the ECSI website. This is a loan and must be repaid.
Online Exit Interviews
Once a student either graduates or drops below half-time enrollment status, an online exit interview must be completed, according to regulations governing student loans. During the online session, you will receive information regarding your loans and the repayment terms. You will also receive information concerning loan consolidation—which loans you can consolidate and which you cannot. WPI's school code is Y8. Get started…
Forms for Cancellations, Deferments, and Forbearances
WPI does not have school-specific forms, so please use the ECSI general forms.
Every January, ECSI mails to all borrowers who paid more than $600.00 in student loan interest an IRS Form 1098-E to report the amount of student loan interest paid on your Perkins and Institutional Loans during the prior tax year. If you paid interest but it was less than $600.00, please visit your account on the ECSI website. This interest may be tax deductible. Please seek guidance from your tax advisor or the IRS. WPI and ECSI do not provide tax advice.