The borrower must, without exception, report any of the following to Ohio Dominican University, 1216 Sunbury Road, Columbus, OH 43219 or call (614) 251-4776:
- Withdrawal from school
- Transfer to another school
- Drop below half-time status
- Name change
- Address change
- Social security number changes
By reporting the information above, the student and ECSI can keep each other informed
When a student separates from Ohio Dominican University (i.e. withdraws, transfers, drops below half-time status, graduates) the exit process begins.
Federal regulations require borrowers to complete an exit interview prior to leaving ODU.
You will receive an exit letter with the information you need to gain access to the exit interview, which you can complete online at www.ECSI.net. Exit letters are mailed out to the current address on file with Ohio Dominican.
If you have any questions, contact the ODU Business Office at (614) 251-4776.
You must promptly notify ODU and ECSI of name or address changes. Filing a mail forwarding order with the Post Office does not fulfill this requirement.
Monthly bills are sent electronically via email, therefore it is essential to update both ODU and ECSI of any changes.
You are responsible for repaying your loan even if you do not complete school or are dissatisfied with the education you received, or are unable to find employment.
Completion of Forms
You must submit properly and fully completed certified forms for requesting deferment or cancellation on a timely basis. You are responsible for notifying ODU or ECSI of anything that might alter your eligibility for an existing deferment or cancellation.
You must promptly answer any communication from ODU or ECSI regarding your loan. If you cannot pay on time, you must contact ODU's Business Office at (614) 251-4776 or email@example.com to make arrangements.
Your first payment will be due one month after your nine month grace period ends; the grace period begins on the day of withdrawal, graduation or falling below six credit hours.
The amount borrowed must be repaid within ten years after the date on which repayment begins unless that period is shortened or extended by specific provisions of the Promissory Note.
The minimum monthly payment will be at least $40.00. It may be more if the amount borrowed is sufficient to require larger payments. You will be billed on the 15th of each month with your payment due on the 1st of the following month.
The borrower may prepay all or any part of the principal plus any accrued interest at any time without penalty. If you repay more than the amount due for an installment, the excess will be used to repay principal unless you designated an advance payment on the next regular installment.
Interest shall accrue from the beginning of the repayment period and shall be at the annual percentage rate of five percent (5%) on the unpaid balance. No interest shall accrue during any grace or deferment period. However, it will accrue during any forbearance period.
About ECSI - Educational Computer Systems, Inc.
The invoice for your Perkins Loan will come from ECSI either by email or paper bill.
All Perkins Loan payments for Ohio Dominican University are to be made to ECSI by credit card or check. Do not send your payments to Ohio Dominican University.
- Credit card: pay online at www.ECSI.net
- Check: make payable to Ohio Dominican University and send to ECSI, 181 Moutour Run Road, Coraopolis, PA 15108-9408
Deferments and Cancellations
The borrower should refer to his or her Promissory Note for the specific deferments/cancellations available to him or her. A list of deferments/cancellations for all Perkins loans can be obtained by visiting www.ecsi.net. For deferment/cancellation forms please contact ECSI.
If at any time you think you are eligible for a deferment, cancellation, or postponement, contact ECSI or the Business office at (614) 251-4776.
View and print ECSI forms.
Consolidation of loans allows a borrower to combine different types of federal student loans to simplify repayment. Contact your Stafford/Direct Loan service to discuss consolidation.
For a complete discussion, consult the Student Guide to Financial Aid from the US Department of Education. Copies are available in the Office of Financial Aid or at the DOE's website.
Credit Bureau Reporting
Per federal regulations, the Perkins Loan is reported to the credit bureaus.
Late fees will be assessed for late payments and defulted loans are subject to collection action and/or litigation.
All loans sent ot an outside collection agency will assess a minimum of 30% of the balance due including principal, interest and late charges.