Frequently Asked Questions

What is a Federal Perkins Loan?

      • Based on need and availability of funds
      • Limits: $4000 /yr max; $20,000 max for undergraduates who have completed their second year
      • Interest none while in school; 5% while in repayment
      • Repayment: 9 month grace period before repayment begins; 10 year max

How do I obtain Deferments/ Forbearances?

Sometimes special circumstances arise that make it difficult for you to pay back your loan. Deferments and forbearance are two important tools that allow you to adjust or postpone loan payments.


A deferment is a period of time during which your loan holder suspends your regular payments. If you have a Federal Perkins Loan, the government will pay the interest on your loan during the deferment period. Deferments are granted for specific situations and have certain time limits and conditions for eligibility. In general, deferments are granted for:

  • enrollment in school
  • study in graduate fellowship program
  • rehabilitation training program for disabled individuals
  • unemployment
  • economic hardship

All of the neccessary forms can be found on this site. Please submit them to the Business Office for review by the Perkins Loan review committee.


Forbearance is another way to extend the time you have to reapy your loan. It allows you to temporarily lower or postpone your payments. KCAI may grant forbearance if you are willing, but temporarily unable to make full or partial payments and do not qualify for a deferment.

During forbearance, interest continues to accrue on your Perkins Loan. If you do not pay the interest, KCAI will add it to your principal balance when your forbearance ends. This increases your total debt.

Most forbearances are discretionary. You will need to submit an application to be reviewed by the Perkins Loan review committee. Keep a copy of your forbearance request form and follow up with the Perkins Loan Specialist until they grant or deny your request. Do not stop making payments until you receive written notice that the forbearance is in effect. KCAI's Perkins Loan office is willing to help you through tough times, as long as you notify them early, while you're still making payments, and before you default on your loan.

I want to attend another school, how should I handle my Perkins Loan?

First, you will have an Exit packet to discuss the various aspects of the loan that you will need to fill out upon your departure from KCAI.

Second, it is important that you fill out an in school deferment form when you enroll full- time in another institution. This form must be signed and sealed by the Records office at the new institution that you are attending and sent to KCAI or ACS in order to update our records.

Where do I send my payments if I do not receive a bill?

You have two options.

The fastest and most effective way to send your payment is directly to ACS:

ACS, Inc. - Education Services
Campus Products and Services
PO Box 7061
Utica, NY 13504

ACS Toll Free Number:

You may also it to the business office at KCAI. Please factor in a 5 to 7 day delay due to processing.

Attn: Perkins Specialist, Business Office, 4415 Warwick Boulevard, Kansas City, Mo 64111

Phone number: 816-802-3500

Note: Remember to put your account number on your check or money order.

How much will my monthly payments be?

The minimum monthly payment is based upon the total amount you borrow from the Federal Perkins Loan program at KCAI. You may contact the KCAI Perkins Loan Specialist in the Business office for more information.

When will I begin paying my loan?

Your first payment will be due 9 months after you leave the Kansas City Art Institute.

What is a grace period?

There are two types of grace periods; an initial grace period ( 9 months) and a post - deferment grace peroid of (6 months). During these grace periods, principal and interest does not accrue.

What is an EXIT information session?

All students are required to attend an Exit information session before leaving KCAI (for any reason). Your responsibilities and rights concerning your Federal Perkins Loan will be explained to you at that time. You will be given a repayment schedule and information concerning your deferments and cancellations.

What is the difference between a Perkins and a Stafford Student Loan?

A Perkins Student Loan is a campus based student loan. KCAI is your lending institution. Your account will remain with KCAI until the loan is paid in full. A Stafford Student Loan is borrowed from an off-campus agency such as a bank of a secondary market.

What is ACS?

ACS is the billing agency for KCAI Federal Perkins Student Loans. You will be billed by ACS. Note: Monthly payments are due on or before the first of each month, even if you dont receive a monthly statement.

Will my loan transfer to another college?

No, Student Loans are not transferrable to other schools. You must reapply at that school.

Who do I inform if my name, address, SSN, or phone number changes?

You must notify ACS at (800) 826-4470 or the KCAI Perkins Loan Specialist in the Business office immediately.

What do I do if I drop below 6 credits or transfer to another school?

You must notifiy the KCAI Perkins Loan Specialist in the Business Office immediately. You must have an Exit Information session.

Should I consolidate my Perkins Loan with my other loans?

The Federal Consolidation Loan was designed to assist you with managing your debt. If you have several different loan payments and wish to make just one payment, you may apply for a Consolidation Loan. You can use loan consolidation as a way to manage your debts. Consolidation extends repayment periods from the standard 10 - year repayment to up to 30 years, depending on the amount you consolidate.

Direct Loan Consolidation Website

Explore the KCAI Viewbook

The Kansas City Art Institute's viewbook provides an overview of KCAI's academic programs,  students, faculty, alumni and campus. Download the viewbook here  (PDF)

Virtual Advisor

Have questions about KCAI? Find the answers here.