ACS Education

ACS Education is Lawrence's loan servicer for the Federal Perkins Loan. 

Perkins Loan Overview

The Federal Perkins Loan program is administered jointly by the Financial Aid Office and the Student Accounts Office. Funds from this program, when available, are loaned to the neediest students, as determined by the needs analysis. If a student is eligible for a Perkins Loan, the loan amount they are eligible for will appear on their award notification. Interest is at a fixed rate of 5%. Repayment and interest are deferred until nine months after a student graduates or falls below half-time enrollment. ACS-Education is the contracted Federal Perkins Loan servicer for Lawrence.

  • Interest Rate
    • 5% (fixed)
    • Interest does not accrue when the student is enrolled in school at least half-time or during the 9 month grace period
    • Interest is charged when the loan is in Repayment
  • Loan Origination Fee
    • None
  • Grace Period
    • 9 months
    • The Grace Period begins at the time of graduation or when the student is no longer enrolled at least half-time (9 or more units)
  • Repayment
    • Repayment begins after the completion of the 9-month Grace Period
  • Loan Servicer
    • The loan servicer for Lawrence students is ACS Education. This is the company that you will make payments to when repaying your Perkins Loan.
    • ACS Education website: www.acs-education.com

Entrance Counseling

Before completing Entrance Counseling, you must first accept your Perkins Loan. You may accept your loan in one of two ways:

  1. Accept your loan in Voyager (click here for instructions)
  2. Return the Financial Aid Acceptance form that was mailed to you.

Additionally, if you're a new student, you must also submit your enrollment deposit.

Follow these directions to complete the Perkins Loan Entrance Counseling:

  1. Click here to access the Financial Counselor website
  2. Click on "Entrance Interview"
  3. Click "Continue"
  4. Enter your Social Security Number (SSN) and Date of Birth (DOB)
  5. Click "Continue"

Master Promissory Note

You should complete your Perkins Loan Master Promissory Note (MPN) after you have submitted your enrollment deposit and accepted your Perkins Loan.

After you accept your loan, your MPN will be ready to sign in approximately 3-5 business days.

Follow these steps to complete your Perkins Loan MPN:

  1. Click here to access the MPN E-Sign site
  2. Click on the "Continue" button
  3. Enter your name, Social Security Number (SSN), and Date of Birth

Exit Counseling

When you graduate or withdraw from Lawrence, you must complete Exit Counseling.

Click here to access the Perkins Loan Exit Counseling website.

Perkins Loan Teacher Cancellation

Federal Perkins Loan Teacher Cancellation Overview (Federal Student Aid Website)

Perkins Loan Cancellation Form (ACS Education Website)

You qualify for cancellation (discharge) of up to 100 percent of a Federal Perkins Loan if you have served full time in a public or non-profit elementary or secondary school system as a:

  • teacher in a school serving students from ; or '
  • special-education teacher, including teachers of infants, toddlers, children, or youth with disabilities; or
  • teacher in the fields of mathematics, science, foreign languages, or bilingual education, or in any other field of expertise determined by a state education agency to have a shortage of qualified teachers in that state

Eligilibility for teacher cancellation is based on the duties presented in an official position description, not on the position title. To receive a cancellation, you must be directly employed by the school system. There is no provision for canceling Perkins Loans for teaching in post-secondary schools.

Perkins Loan Deferment

Deferment is a period of time during which the borrower is not required to repay the loan principal. Interest will not accrue during any type of deferment, except an economic hardship deferment. 

Types of Deferment

  • Fellowships
  • Rehabilitation Training
  • Unemployment/Underemployment
  • Economic Hardship
  • Cancellation Service

In order to qualify for a deferment, you must meet the specific eligibility requirements for that deferment type listed on the ACS-Education website

Deferment Forms

To apply for a deferment, download and/or print the required form. Complete the form in detail and be sure to include any required authorization or documentation listed in the eligibility requirements section.

Send the completed form to ACS for processing (the ACS address is on the second page of each form). ACS will process your request promptly. You will receive notification explaining whether your deferment was applied, rejected, or returned to you for additional information.

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