Loan Repayment

Wright State University services several different “campus based” loans including:

The Student Loan Collection Department is responsible for servicing these and other institutional-based loans where Wright State University is the lender. We can be found within the Office of the Bursar and can be reached at (937) 775-5666. It is important for you to contact us throughout your loan repayment period whenever you:

• Change your name
• Change address
• Change telephone number

You can manage your Wright State campus based loan at borrower.ecsi.net; Wright State's school code is "w58".

Payments

Heartland ECSI is the billing service retained by Wright State to perform the billing and bookkeeping functions on our student loans. Heartland ECSI will send out regular billing statements or annual coupon books to the borrower. 

Payments may be made by check and mailed to Heartland ECSI, or via ACH payment from your checking or savings account.

To make a payment electronically or set up a recurring ACH payment go to borrower.ecsi.net; Wright State's school code is "w58".

General Payment Information

• You may make payments in excess of the amount due without penalty.
• You must contact WSU Student Loan Collections if a payment will be late for any reason.
• You must inform WSU and Heartland ECSI of any changes in your name, address, or phone number.
• You may be eligible to defer, postpone or cancel repayment of your loan. Examine your loan paperwork to determine your eligibility. You will be required to complete a form and submit it in a timely manner.
• Your payment history will be reported to the credit bureau on a monthly basis.
• Your loan must be repaid on a timely basis.
• If you default on your loan, you may: (1) have a hold placed on your student account which will prevent registration and transcript release; (2) be subject to late fees on past due payments; (3) lose your right to defer or cancel the loan; (4) be required to pay collection costs once the account is certified to the Ohio Attorney General; (5) be subject to litigation.

Forms

You may be eligible to defer, postpone or cancel repayment of your loan. Examine your loan paperwork to determine your eligibility. You can contact Heartland/ECSI and/or WSU Student Loan Collections for questions on eligibility. If eligible you will have to complete and submit the necessary form. These forms can be found at borrower.ecsi.net in the “downloadable forms” section.

Types of forms:

Deferment  - a period of time when payments are not due and interest does not accrue (on most loans).

• Educational – most loan programs offer deferments if you are enrolled in school on at least a half-time basis
• Economic Hardship – the Perkins program offers this deferment if you meet the criteria described on the form

Cancellation – This is mainly a Perkins Loan benefit.

• Teaching – various aspects including low income districts, shortage subjects, special education
• Nursing/Medical Technician
• Law Enforcement
• Head Start
• More information is listed in the “information center” on the Heartland ECSI website
• Permanent and Total Disability (on all loan types)

Forbearance – a period of time when payments are not due but interest accrues

• Granted for shorter periods of time than deferments
• Generally approved for hardship situations
• Interest must be paid current by the end of the forbearance period

Direct Loans

Direct Loans are federal subsidized and unsubsidized Stafford loans where the lender is the federal government.  These loans are serviced by third party vendors contracted by the federal government. 
Understanding the repayment process for your federal student loans can go a long way toward building a solid financial foundation.

Remember, federal student loans are real loans, just like car loans or mortgages. You must repay a student loan even if your financial circumstances become difficult. Your student loans cannot be canceled because you didn’t get the education or job you expected, or because you didn’t complete your education (unless you couldn’t complete your education because your school closed).

If you have questions about your federal direct loans, contact Direct Loan borrower services at 1-800-848-0979 or visit the Federal Direct Student Loan website. 

You should also contact your loan servicer if you:

• Need help making your loan payment
• Change your name, address or telephone number
• Have a question about your bill
• Graduate
• Drop below half-time enrollment
• Transfer to another school
• Stop going to school
• Have questions on deferment, forbearance or loan consolidation
• Have questions on loan forgiveness, cancellation and discharge
• Have questions on how to resolve a dispute
• Need to understand the consequences of default

Who is my loan servicer for federal Direct Loans?

Visit the Federal Student Aid website to view information about all of the federal student loans you have received and to find contact information for the loan servicer or lender for your loans. You will need your Federal Student Aid PIN to access your information.

Please visit studentaid.gov for more Information.

Exit Counseling

Students who are graduating or otherwise leaving the university are encouraged to contact the Office of Student Loan Collections so they can complete the Loan Exit Interview requirement. The purpose of the Loan Exit Interview is to explain the various loan provision benefits students may have such as grace periods, deferments, hardship forbearance, and cancellation. Interest rates, minimum monthly payments and loan repayment periods are also reviewed for the major loan programs.

Each semester the Student Loan Collections Office conducts group Loan Exit interview sessions for students who have received either federal or institutional loans. Students are required to complete a Loan Exit Interview and are encouraged to attend one of the group sessions conducted by Student Loans Collections staff toward the end of each semester. During the session students complete a Loan Interview form in order to provide updated addresses and contact/reference information prior to leaving the university. Students will also have the opportunity to ask questions about their specific loan programs.

Students who are unable to attend one of the group sessions can complete this requirement online at borrower.ecsi.net. Since the Loan Exit Interview is both an institutional and federal requirement, a hold will be placed on the student's account until the Loan Exit Interview is completed.

For further information about the Loan Exit Interview process, please contact the Office of Student Loan Collections at (937) 775-5666.