The billing for your Federal Perkins and University Student Loans is handled by Educational Computer Systems, Incorporated (ECSI). ECSI is a billing service provider for the college, not a collection agency.
One of several features of the ECSI service is that you now have improved access to your account(s) on the Internet. Through the ECSI site, you are able to verify when your payments have been received, update address and phone information, verify account balances, obtain loan payoff amounts, sign-up for electronic billing, and make your payments.
The website of Educational Computer Systems, Inc. (ECSI) is www.ecsi.net.
Another feature is that ECSI provides payment options such as Electronic Funds Transfer (EFT/ACH), payment date choice (only if using EFT), and Credit Card payments for all borrowers (additional fee applies to all credit card payments). You can contact ECSI or log onto their website and initiate this service after you have made at least one payment by check.
With ECSI, you are billed on the 15th of each month with your payment due on the 1st of the next month. If you are currently in a deferment or grace period, you will receive statements prior to the first payment due date. If you do not choose to pay on-line at http://www.ecsi.net, please be sure to make your check or money order payable to S&T and return your payment to the following address:
S&T/ ECSI, 100 Global View Drive, Warrendale, PA 15086.
Always be sure to write your account number on your check or money order. If at any time you think you are eligible for a deferment, cancellation, or postponement, please access the forms at www.ecsi.net/bwr/forms and return the completed forms to ECSI for processing.
If you have any questions regarding your statement, please contact ECSI directly at 888-549-3274 or by email at firstname.lastname@example.org. In the event you need further assistance, you may always contact S&T at 573-341-4190 or email@example.com.
The office of Student Loan Collections administers and services University and Federal Perkins Loans.
A Federal Perkins Loan is a low-interest loan for undergraduate and graduate students with exceptional financial need. Missouri S&T receives a specific amount of Perkins Loan funds for the year. Priority for these limited funds is given to students who complete the application process, including providing requested documentation to the Office of Student Financial Assistance, earliest and who demonstrate exceptional financial need.
The interest rate on the Perkins Loan is fixed at 5%. If you are attending school at least half-time, you have nine months after you graduate, leave school, or drop below half-time enrollment before you must begin repayment on either the principal or the interest. Missouri University of Science and Technology acts as the lender on this loan, which is made with government funds. Repayment of your Perkins Loan will be made to Missouri S&T. You may be allowed up to 10 years to repay your loan. The amount of your monthly payment will depend on the amount of your debt and the length of your repayment period.
|Examples of Typical Payments for Perkins Loan Repayment|
|Total Loan||Number of Payments||Monthly Payment||Total Interest||Total Repaid|
Figures are from The 2005-2006 Student Guide from the U.S. Department of Education.
Missouri S&T also offers a variety of loans funded by generous donations from our friends and alumni. These loans vary from 0% to 7% fixed interest rates. The grace periods range from 3 to 12 months. They are granted to undergraduates who have demonstrated need. These loans are awarded by the Office of Student Financial Aid based on information obtained from the FAFSA. Similar to the Perkins Loan, these loans allow up to 10 years for repayment. The monthly payments vary based on loan amount, but generally average $50 per month.