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Students are encouraged to borrow only what they need and to seek outside scholarships and save summer earnings in order to reduce overall indebtedness. The Financial Aid Office works closely with students to achieve this goal.

There are two ways loans can help cover your college expenses: You can receive need-based federal loans as a part of your financial aid package and/or you can apply for non-need-based loans to cover your family's contribution to your education. Click here for directions to finalize your Federal Direct Loan or to start a parent PLUS Loan or student private alternative loan.

Student Federal Loans

Â鶹ÊÓƵ participates in the Federal Direct Loan Program for students. Information and application procedures at

Parent Loans

Â鶹ÊÓƵ participates in the Federal PLUS Loan Program and other private parent loan programs. These loans can be used to help finance your education.

Student Private Loans

Private Loans are not guaranteed by the Federal Government and are not awarded as part of a student's financial aid package. Students may borrow such a loan through various participants such as banks or credit unions to help cover college expenses. Students should exhaust their eligibility in the federal loan programs before borrowing through a private student loan program.

Processing Tips for Private Lender Loans

• Processing time will take from 20 to 30 days from application to disbursement due to truth in lending regulations.
• Loans are disbursed half in each semester.
• Plan your annual financial needs and complete the loan process by August 1.

Private Alternative Loan for Latin America and Caribbean Students

The is an educational loan program of the Organization of American States (OAS) that helps citizens from Latin America and Caribbean finance their studies or research in accredited universities across the United States by awarding interest-free loans of up to $15,000 dollars.

Private Alternative Loan Consolidation

Private Loans can be consolidated if you have taken loans out from more than one lender.

Federal Perkins Loan

The Federal Perkins loan is a need-based, low-interest, fixed-rate loan. The loan is governed by federal regulations set by the Department of Education. This is a Title IV Program. Â鶹ÊÓƵ is the lender and administrator of this loan program. The loan must be repaid, the borrower may be allowed up to ten years or a minimum monthly payment of $40. There will be NO futher disbursements of the Perkins Loan as the government has ended this program. Â鶹ÊÓƵ contracts with Heartland ECSI to process Federal Perkins Loans. For more information you may contact the Financial Aid Office at phone (507) 933-7527 or perkins@gustavus.edu.

All questions about your Perkins Loan should be directed to ECSI at:
Important Contact Information:
888-549-3274 ECSI Customer Contact
866-291-5384 ECSI Fax

Mailing Addresses:
Borrower Payments:
Â鶹ÊÓƵ c/o ECSI
PO Box 718
Wexford, PA 15090-0718

Paperwork:
Â鶹ÊÓƵ c/o ECSI
PO Box 1278
Wexford, PA 15090-1278