Skip to main content

Financial Aid

Perkins Loan Program

What is a Federal Perkins Loan? 

A Federal Perkins Loan is a low-interest, fixed-rate (5%) loan offered by the school to a limited number of students who show exceptional financial need and who file their Free Application for Federal Student Aid (FAFSA).

Federal Perkins Loans are funds provided by the federal government using the college as the lender. Carthage uses a loan management company call Educational Computer Systems Incorporation (ECSI) to manage these loans. ECSI can be contacted by calling 1-888-549-3274. All interest on a Perkins Loan is paid by the federal government while the student is attending school at least half time and during the nine-month grace period after the student either graduates or fails to enroll at least half-time. Repayment on this loan begins nine months after the student graduates, leaves school, or fails to enroll at least half time. A student has up to 10 years to repay the loan depending on the amount borrowed.

When can I complete the Perkins Entrance Counseling and Master Promissory Note? 

The Financial Aid office must notify ECSI of the student’s loan before the student can go online and e-sign the Perkins Entrance Counseling and Master Promissory Note. Normally a list of enrolled students is uploaded to ECSI in early August of each year. A letter or email will go out to the student informing him or her when he or she can go online to complete this process.

Are any documents required for the Perkins Entrance Counseling/Perkins Master Promissory Note? 

In addition to the FAFSA, all first-time borrowers must complete an Entrance Counseling Session and a Master Promissory Note. Complete Perkins Loan Entrance Counseling and Sign the Perkins Master Promissory Note online. The Perkins Loan will not transfer to the student’s account until after this process is completed. If you wish, you can decline the Perkins Loan by either emailing your wishes to the Office of Student Financial Planning, finaid@carthage.edu, or by logging into your My.Carthage account.

Perkins Loan Exit Counseling 

When a student withdraws or graduates, the student is required to complete Perkins Exit Counseling. The student will receive a letter or email from ECSI giving the details of this process.

Federal Loan Consolidation

After a student graduates or quits school for six months, the student needs to make a decision concerning loan consolidation or repayment. Read more about loan consolidation

  • Quick Facts

    • Carthage is named a Best Midwestern College by The Princeton Review (2019), a designation given to only 25 percent of four-year schools.

    • The Tower, Carthage’s newest residence hall, provides some of the best views on campus — if not in the Midwest! In addition to #carthageviews of the lake from seven stories up, residents enjoy suite-style living and two floors of shared campus spaces for gaming, cooking, group meetings, or quiet studying. Learn more about all housing options.

    • You’re going to need brain fuel. Grab a morning coffee and a snack and Starbucks or Einstein Bros. Bagels. Later, meet friends at “The Caf,” where the specials change daily but the staples are constant, or swing through “The Stu” for wings, a burrito, or a sub. A new option, Carthage Cash, even covers some off-campus meals.

    • 96% of Carthage alumni report that they have secured a job or are continuing their studies six months after graduation. Visit Career Services.

    • 91% of employers say critical thinking, communication, and problem-solving skills matter more than your major when it comes to career success. Learn more about how the liberal arts prepare you for a successful career.

    • Lots of schools wear the four-year label. Carthage stands behind it. 95% of Carthage graduates earn their degrees in four years. Learn more

    • Oscars. Emmys. Tonys. Golden Globes. The playwrights we’ve brought in have them. Each year, the Carthage Theatre Department commissions an original script by a renowned playwright for its New Play Initiative. Carthage students then work with the writer to stage it. 

    • Carthage has been named a top producer of Fulbright Fellows three years running: 2015-2016, 2016-2017, and 2017-2018. Read about Carthage Fulbright winners.

    • Things look new at Carthage because they are. Our science center, student union, athletic and recreation center, and numerous residence halls have all been constructed or newly renovated in the last 15 years.

    • Carthage offers majors, minors and concentrations in more than 50 areas of study, from archaeology to neuroscience, nursing to music theatre.

    • Our Summer Undergraduate Research Experience offers select students a research budget, one-on-one mentoring with a professor, and 10 weeks of analyzing, deciphering — and getting paid.

    • So the lake is kind of a focal point, but there’s a lot more to love about our campus — like the fact that our more than 80-acre campus is also an arboretum and wildlife sanctuary. Focused on keeping campus lush forever, we plant between 50 and 75 new trees every year from a variety of species.

    • Carthage was founded in 1847. That’s more than 170 years of leaders, makers, and go-getters going out and going forth. Read more about Carthage’s rich history.

    • More than 90 percent of students receive financial aid. Carthage awards more than $20 million in scholarship and grant assistance. That includes $1.5 million in competitive scholarships in business, mathematics, science, languages, the fine arts, leadership, and overall academic strength. Learn what’s available.

    • Abraham Lincoln was an early Trustee of the College, and U.S. Secretary of State John Hay was a Carthage alum. The two still have a proud place on our campus. Spend some time with them in our Sesquicentennial Plaza. On warm days you’ll find professors leading their classes here.

    • Come to Carthage; hear yourself think — think … think …
      Legend has it that Sesquicentennial Plaza holds a perfect echo. Just stand with both your feet on the “1847,” face Straz, and start talking. “You’re the only one who can hear you, but you’ll be crystal clear,” promises English and theatre alumna Mikaley Osley.

    • Our Great Lake provides Carthage students with some amazing views. Think classes on the beach, lake views from the lab, and sunrises from your dorm room. “I love waking up in the morning with the sun shining off the lake. Nothing compares to the view in the morning,” recalls biology and neuroscience major Ann O’Leary.

    • Carthage awards up to 35 Presidential Scholarships each year, which range from 75% tuition up to full tuition, room, and board. Learn more.

    • For a full decade, NASA has selected Carthage students to conduct research aboard its zero-gravity aircraft. Lately, the stakes have risen. A team of underclassmen is grinding to prepare a tiny but powerful Earth-imaging satellite for launch to the International Space Station. Learn more about the space sciences at Carthage

    • Carthage is the only college or university in the Midwest where every freshman takes a full-year sequence of foundational texts of the Western intellectual tradition. Learn about the Carthage core.

    • With a student-faculty ratio of 12:1, your professors will know who you are. They will also know who you want to be — and how to get you there. Meet our faculty.

    • There are more than 120 student organizations on campus, from Amnesty International to Fencing to Frisbee, Chem Club to Stand Up Comedy. See how easy it is to get involved.

    • True story: There are more than 27 art galleries, a dozen museums, and nine theatres within 25 miles of Carthage. Some highlights: The nationally recognized Racine Art Museum, the world-renowned Art Institute of Chicago, and the Milwaukee Art Museum. Learn more about our location.

    • What’s better than one professor? Two professors. What’s better than two professors? Two professors from totally different fields teaching a single class. There’s debate. Discussion. Differing perspectives. This is where the magic happens. That’s why every student takes a Carthage Symposium.

    • You can’t hide here — not with only 17 other students in the classroom with you. That’s going to be rough some mornings. But later, when you’re able to argue your point of view thoughtfully, express your opinions succinctly, and meet challenges head-on, without fear … Yep, you’ll thank us.

    • Carthage is ranked No. 5 in the country for student participation in short-term study abroad. Every J-Term, hundreds of students travel all over the world on faculty-led study tours. Imagine a month in Sweden, Rome, Cuba, Senegal, India, Japan …

    Previous
    Next