Perkins, McElroy & Sherman Loans

Master Promissory Note and entrance loan counseling

All students who borrow Federal Perkins, McElroy, or Sherman Loans are required to complete a Master Promissory Note (MPN)/Entrance Loan Counseling. Students are contacted through email and given the ECSI website, which the college uses for students to complete the Master Promissory Note/Entrance Counseling online. This must be completed before the loan can be disbursed. See link below for ECSI.

Exit counseling

Students must complete an exit loan counseling at the time of graduation or at the time they withdraw from Cornell College. See link below for ECSI.

Deferments

Deferments are available if you enter the military; volunteer service in a private nonprofit, Vista, or Peace Corps-type organization; serve as an officer in the U.S. Public Health Service Commissioned Corps; serve in an internship preceding a professional practice; or change schools and continue to be enrolled at least half-time. Paperwork to apply for a deferment is available online from ECSI.

ECSI administers the Perkins, McElroy, and Sherman Loans on behalf of Cornell College. If you have questions regarding the administration of these loans, please contact ECSI at 1-888-549-3274.

Go to the ECSI website for MPN/Entrance Counseling; Exit Counseling and other paperwork.