Federal Perkins Loan Repayment

• ECSI 
  Information about loan repayment, deferment, cancellations, disability, and more
• Department of Education
  Details about Perkins Loans
• National Student Loan Data System
  Status of all federal student loans
• Federal Student Aid
  Application for Total & Permanent Disability Assignment

You are entitled to know the full amount of your loan, the interest rate, the first payment due date and the amount.

Reference the repayment schedule that was given to you when you left school. If you do not have a repayment schedule, you did not complete your exit session before or after leaving ODU. Contact the Business Office at at (614) 251-4550 or busoffice@ohiodominican.edu. 

Payments

You may prepay all, or any portion of the principal plus accrued interest, at any time without a penalty. Payments are applied to outstanding collection, late, and interest charges before being applied to the principal.

All other payments made in excess of the amount due will be used to reduce principal, unless you clearly designate in writing that excess amounts are payments toward future installments. The balance of the loan is not reduced by the total payment amount; it is reduced only by the amount applied to principal.

These payments should be mailed to Educational Computer Systems, Inc, 181 Montour Run Road, Coraopolis, PA 15108. Please indicate on your check that payment is for your Federal Perkins Loan and have your Perkins account number (or last four digits of your social security number) on the check.

Amounts paid during the academic year in which the loan was made will be used to reduce the amount of the loan. These are not considered prepayments but loan reductions. 

Requests for Deferment, Cancellation and Forbearance

You are entitled to request deferment, cancellation and forbearance of your loan as specified in your promissory note. These requests must be made in writing and must include any supporting documentation the school requires.

Send completed form to Ohio Dominican University Business Office, 1216 Sunbury Road, Columbus, OH 43219.

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.

Contact Information

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.

Repayment

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.  

Prompt Response

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 busoffice@ohiodominican.edu to make arrangements.

Repayment

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.

Prepayment

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

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.

Loan Consolidation

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.  

Collections

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.