What does defaulting on a Federal Perkins Loan mean?

A Federal Perkins Loan goes into default one day after the payment due date.  If a student has not made a payment by one day after the date the payment was due, the Federal Perkins Loan will go into default.

What are the consequences of defaulting on a Federal Perkins Loan?

If a Federal Perkins Loan goes into default, the University can demand immediate payment of the entire unpaid balance of the loan including principal, interest, late charges, and collection costs.  All deferment, forbearance, and cancellation options are forfeited.  All cases of defaulted loans are reported to all major credit bureaus and will affect the student’s future eligibility for federal aid.  Unresolved defaulted loans are referred to outside collection agencies; Judgments, property liens, wage garnishments, and tax refund offset (tax refund goes to lender) may result.

How can I get out of default?

  • Pay the past due amount.
  • Request a deferment or forbearance in writing with supporting documentation.  The request must be approved in order for you to get out of default.
  • Consolidate loan.
  • Loan Rehabilitation Program

Office Hours: M – Th.  8:30 am – 4:30 pm, Fri. 8:30 am – 12:00 pm
Phone: (951) 785-2238
Email: accounts_loans@lasierra.edu


Schedule an appointment with a financial counselor.

piggy bank


Institutional and privately donated funds offered by La Sierra University and other entities.

tuition and costs

Tuition & Costs

Undergraduate, graduate, and other academic and summer programs tuition and costs.

Instructions for FAFSA application

Start by completing the FAFSA on the Web.

  1. Take your time filling out the FAFSA. Read the directions and call us if you have any questions. Have your parents carefully fill out their sections, if applicable. (The FAFSA instructions will determine whether your parents must complete the form and will indicate where to fill in their information.) It is best if you and your parents complete your Federal Income Tax Returns before completing the FAFSA so you can use exact tax information, if you can meet the March 2 Cal Grant deadline. If not, estimate the income and tax information on the FAFSA. If your application is selected for Verification you must submit copies of your own as well as your parents' IRS Tax Return Transcripts and W-2 forms (if their information is included on the FAFSA).
  2. The FAFSA application process is FREE. Make sure you submit your application on the government's website: WWW.FAFSA.ED.GOV, and not on any other websites ending in .ORG or .COM.
  3. Make or print out a copy of your completed FAFSA and submit electronically. The FAFSA will calculate your family's ability to pay for college, using standard methodology required by the Federal government, and forward your information electronically to La Sierra University. When this report and other required forms and documents are received and you have been admitted to La Sierra, your application will be processed.

Be sure to read your e-mail. After submitting your FAFSA, you will get an e-mail confirming when your FAFSA is processed. Approximately 3-5 business days after your FAFSA is processed, La Sierra University will receive it. Contact the Office of Student Financial Services at 951-785-2175 or email us at sfs@lasierra.edu, if you have questions.

As early as March, Student Financial Services begins to mail out Award Letters to students, with completed aid applications, who have been admitted to La Sierra. The letter will describe the financial aid package you are being offered for the next academic year. It also will give you information about how financial aid is disbursed at the beginning of school and how to remain eligible throughout the year.

  • Financial aid awards are made for one year at a time. Remember to reapply each year, before the annual March 2 priority funding date.

Application Deadline

  • FAFSA applications may be completed between January 1 and June 30 for Federal Pell and Federal Direct  loan consideration.
  • FAFSA data must be received by the March 2 priority deadline. Funds are limited for many programs, and are awarded on a first-come, first-awarded basis. La Sierra does not guarantee that all students that apply through the FAFSA by March 2 will receive these funds.
  • FAFSA applications received after this date will be considered on a funds available basis only. Income estimations are acceptable on the FAFSA and any necessary corrections can be made further down the line using the Data Retrieval Tool. Contact your Financial Aid Counselor before making any correction.


In order to be eligible for any form of federal or state, and certain institutional financial aid, you must fulfill the following requirements:

  • You must be a US citizen or eligible non-citizen.
  • You must have a valid social security number.
  • You must be admitted into a degree-seeking program. (You may apply for aid before you are admitted but you must be admitted before aid can be disbursed to you.)
  • If you are a male of at least 18 years of age, you must be registered with Selective Service System.
  • To retain eligibility you must maintain satisfactory academic progress.
  • To receive most types of aid at La Sierra, you must be at least a half-time student. If you plan to drop credits, you must contact your financial aid counselor, since your aid may be subject to reduction or cancellation.

Checklist Before You Begin

Make Sure You Have The Following Items
  1. Free Application for Federal Student Aid (FAFSA) see #1 and 2 below  (submit to Federal processor)
  2. Additional documents may be requested:
Your Social Security card and Driver's License
Parent Information Form (PLUS Loan applicants only)
Verification Worksheets and Federal IRS Tax Transcripts and W-2 forms
Non-taxable Income Verification
Resident Alien Card or other evidence of citizenship
W-2 forms or other records of income earned in previous year
Your (and your spouse's, if married) Federal Income Tax Transcript for previous year . Use estimates if tax returns not yet filed.
Your parent's (if you are a dependent student) Federal Income Tax Transcript for previous year . Use estimates if tax returns not yet filed.
Records of other untaxed income received in previous year such as SNAP benefits, social security benefits, AFDC or ADC, veteran's benefits, military or clergy allowances, or tax deferred annuity (W-2 form).
Current bank statements
Business or farm records, if you or your parent(s) own a business or farm
Records of stocks, bonds, and other investments

Renewal FAFSA Application

Your FAFSA conveniently saves your demographic and personal information so that you do not need to re-enter it every year. Go to the FAFSA Website to begin your renewal FAFSA.

Within 1 week after you submit your FAFSA, you should receive a Student Aid Report, (SAR) . The SAR is e-mailed to the e-mail address you provided on your FAFSA.

If all your data is complete and correct your SAR will include an EFC. Your EFC is calculated based on a formula established by Congress. This is the index that is used to establish your eligibility for many types of need based aid (Federal Pell Grant, Federal Direct Subsidized Loan, etc.).

Every educational institution is responsible for establishing a basic Cost of Attendance (COA), which may include tuition and fees, housing, food, books and supplies, transportation, and miscellaneous expenses. Budgets at La Sierra are not individualized for each student, but are assigned according to the residency and class level (i.e. on campus, off campus). Costs such as tuition and fees are established based on the assessed rate of 12 units per quarter. Other costs, such as housing, food, transportation, books and supplies, and personal expenses, are established based on the average reasonable costs for those areas. Your individual costs may be more or less depending on the number of credits you register for, your area of study, and the lifestyle that you choose to establish.

Cost of Attendance


Your eligibility for need based aid is calculated by subtracting your EFC along with any outside resources (i.e. Veteran benefits, scholarships, tuition waivers, fellowships, etc) from your COA. This gives the financial aid office your financial need at La Sierra.

COA - EFC - other resources = FINANCIAL NEED


If your EFC and other resources are less than the COA, then you may have financial need, and every effort is made to meet that need with a package that may include grants, work-study, and loans.

Federal Need-Based aid programs include: the Federal Pell Grant, Federal Supplemental Education Opportunity Grant (FSEOG), Federal Work Study, Federal Perkins Loan, and the Federal Subsidized Direct Loan.