When is the payment due date?
All payments are due on the 25th of the month. Payment must be received in our office by the 25th for credit for that month.
To whom do I make my check payable?
All checks should be made payable to The Ohio State University and include either your Student ID# or the last 4 digits of your social security number.
What are penalty charges on our billing statement?
Penalty charges are the late fees that are assessed when Federal loans go past due. $1 is assessed at 30 days past due. $2 is assessed at 60 days past due.
What are other charges on our billing statement?
They may be:
In-house collection fees are the collection costs that are assessed on a loan that goes 90 days past due. $20 per month is assessed every month until the account is brought current or placed in deferment.
Returned check charge is the handling charge assessed when your check is returned for any reason by the bank. The amount is now $30.00.
How often should I file a deferment?
Deferments should be filed at least every year.
What kind of deferments are available?
University short-term loans: none
University long-term loans: none
Perkins Loans: in school deferments (enrolled at least halftime); forbearance, unemployment, and economic hardship; call your loan counselor for more information
Health Professions Loans: in school deferments (enrolled fulltime); internship/residency; forbearance; military; call your loan counselor for more information
Nursing loans: forbearance; military; call your loan counselor for more information
What if I am experiencing economic hardship?
Available on Perkins loans only. Contact your Financial Services Representative (loan counselor) for further details (614)292-1056.
What if I am unemployed?
Available on Perkins loans only. Contact your Financial Services Representative (loan counselor) for further details (614)292-1056.
Can I consolidate my loans?
Only Federal loans can be consolidated.
I want to consolidate my loans. Is that a good idea?
Keep in mind that only federal loans can be consolidated. If you chose to consolidate, it is best to see what guidelines each loan has for this option. For example, if you choose to consolidate Perkins loans, you waive your ability to get your loan cancelled at a later time. Please perform your research before making this financial decision. Contact your Financial Services Representative (loan counselor) for further details (614)292-1056.
Who do I speak to about consolidating my loans?
Speaking with your Financial Services Representative (Loan Counselor) will help in the process of deciding if consolidation is the best option for you. By speaking to our counseling staff, your economic situation will be assessed and advice will be provided accordingly.
Who is the Lender of my loan(s)?
The lender of your loans can vary. The Ohio State University is the Lender for the Perkins/Health Professions Loan(s) whereas a local/national bank can be the lender for the Stafford Loan, and AFSA (American Financial Services Association) is the lender for the Direct Loan. This information is outlined in the promissory note and the exit interview.
My income each month is not enough for me to make my loan payment and pay the rest of my bills.
You have the ability to defer your federal loans through Economic Hardship or Forbearance. Contact your Financial Services Representative (loan counselor) for further details (614)292-1056.
I am transferring / have transferred and I have outstanding loans. What can I do?
Only federal loans can be deferred as long as you provide proof of part-time or more enrollment status at your new education institution to your Lender (OSU). Also, you are required to complete the necessary exit interview and submit all the forms required for deferment.
What is a Grace Period? When does grace start?
Grace period is a specific length of time in which the borrower is not required to make federal loan payments after their status has changed or separation from school. A status change occurs when a student drops below the required class load (6 credit hours or more for undergrads, 5 credit hours or more for graduate students), withdraws from school or graduates. Grace periods generally are from six (6) to nine (9) months after separation. To find out the grace period of a specific loan, please contact your Financial Services Representative (loan counselor) for further details (614) 292-1056. You can also find out your grace period term within your exit interview.
Where do I find the forms for federal loan deferment, forbearance, and/or cancellation?
The forms for federal loan deferment, forbearance, and cancellation can be found on the Office of Financial Services' Office website at: http://www.treasurer.ohio-state.edu/Bursar/default.aspx. Click on the button for Student loans and then the three forms under the student loan forms. This is for federal loans only. Contact your bank lender directly for all other loans.
What is a Deferment? How do I get my loan(s) Deferred?
Deferment is defined as a temporary delay in the repayment of a federal loan. Deferments are offered on a need basis. To see if you qualify, go to: http://www.treasurer.ohio-state.edu/Bursar/default.aspx and click on the button for Student loan and then the deferment form link under the student loan forms. This form outlines the eligibility requirements.
I am in the military. Can my loan(s) be deferred?
Military deferment is offered to those students that have qualifying federal loans after July 1, 2001. To check your eligibility, please navigate to www.ecsi.net/militarydef for further details.
How can I get my Federal Perkins loan(s) cancelled?
Cancellation of a Perkins loan can be offered to students meeting cancellation criteria requirements. To see if you qualify, go to: http://www.treasurer.ohio-state.edu/bursar/bursar.html. Click on the button for Student loan and then the Cancellation form link under the student loan forms. This form outlines the eligibility requirements.
How do I log in to Student Loan ePay?
1. Click Student Loan ePay Log In
2. Log in using your Ohio State’s School Code (59), Account Number, and Password. All three of these required items are printed on your bill.
OSU utilizes their computer system “Stand A Loan” (SAL) to administer student loans. You may make your payment on the ECSI website and it will be posted to your student loan account overnight. ECSI is committed to protecting confidentiality. Therefore, ECSI does not sell personal information about current or former borrowers to anyone. Safeguard provisions have been instituted to ensure compliance with the Gramm-Leach Bliley Act (GLBA). For further information regarding ECSI, please logon www.ecsi.net .
What FORMS OF PAYMENT can I use to pay using the "Student Loans ePay" feature?
This feature allows for payments to be made by:
Daily one-time Automated Clearinghouse (ACH) (Payments submitted prior to 4 PM EST will be processed on the day that the payment is submitted. Payments after 4 PM EST will be processed on the next business day), or
Schedule a future ACH payment for the first, tenth, fifteenth, or twentieth of each month, or
Paying by credit card (Visa, Mastercard, and Discover). An ACH payment can be made either by your savings or checking account.
Please record your confirmation number for future reference and preferably print the confirmation page and/or transaction page as necessary.
Can my Service Indicator (previously known as a HOLD) be removed after I make a payment?
If you are paying with a credit card and need your hold removed immediately, you can contact the Office of the University Bursar at bursar@osu.edu or (614) 292-1056 to have your payment verified and your negative service indicator (previously known as a hold) removed. If you are paying by ACH, you will need to wait 5 business days after your selected ACH date before requesting that the service indicator be removed. Credit card payments are verified immediately, but the 5 business-day-period for an ACH payment is to verify that no problems have occurred.
After submitting a payment, when will this payment be reflected in the new loan balance?
Payments may appear quicker with the online payment feature, but please allow 1-2 OSU business days for your payment to be reflected on your account. Payments will be posted to the SAL (Stand-A-Loan System) with the date the payment was made.
What should I consider if I am contemplating making a) a monthly ACH payment (either the 1st , 10th , 15th, or 20th of the month) or b) daily ACH?
Due to the monthly system processes and calculations, we recommend the best date to choose for a monthly established (an automatic monthly ACH) ACH is the 10th or the 20th of the month to avoid any late charges or penalties.
Regarding a daily (one-time ACH) ACH, we recommend after the 10th and before the 25th of the month to avoid any late charges or penalties.
How does an automatic ACH established for the 1st of the month affect my account?
Paying between the 1st of the month and the 10th of the month presents a special situation for payers. Bills are calculated at the beginning of each month. Often when people switch their payment date from after the 10th to before the 10th, they don't consider the month's payment which might be missed -or- a month may be paid twice. If you have any doubt about changing your payment date to the first, don't hesitate to call the Office of the University Bursar at (614) 292-1056 and ask to speak with your Financial Services Representative (loan counselor). They can review your account and provide needed answers!
If I was already established as a monthly ACH before the new "Student Loans ePay" feature, how do I get my PIN number since I do not receive a bill?
You would need to email bursar@osu.edu or phone (614) 292-1056 and request a PIN letter be issued and mailed to your address of record.
How do I know that my payment was made?
When your payment is sent to the bank for processing, you will receive an email notification. This is no guarantee that the payment will clear (e.g., The payment will not clear if you have insufficient funds in your account).
If you made a recurring payment on the "Student Loans ePay" web site (1st, 10th, 15th, or 20th), you can return to the "My Account" page and review the list of payments. If a payment is returned as insufficient (NSF) from the bank, it will be reflected on your payment list.
For all payment methods, you can review the Current Account Balance page on the "Student Loans ePay" web site. The site will show the last payment date and amount. You would also see your balance decrease as payments are made. The Current Account Balance page is a tool to track your progress through repayment.
How quickly will my payment be withdrawn from my bank account if I pay with ACH from my savings or checking)for a one-time transaction or monthly-established payment?
Payments are generally processed within 5 business days.
Can I pay with my debit card?
The only type of debit cards accepted are those issued by a credit card company (Visa Check Card for example). These types of cards are tied to your bank account so that the payments you make are taken from your bank account within a day. This is different from the credit card portion of the card where you receive a monthly bill. Banking network debit cards like you use in your local ATM cannot be used.
What other benefits are provided through "Student Loans ePay?"
Check the current balance of their bill from Student Loan Services
Save on postage when paying online
Reduce the possibility of late charges by paying online
Update name, address, and phone number fields
Is using the "Student Loans ePay" safe?
ECSI offers 24/7 Web-Enabled Access to borrowers. Your information is accessed by using a unique user ID and password. ECSI secure website uses Secure Sockets Layer (SSL) technology to encrypt your data for maximum security. Your information is security transmitted from your computer to ECSI’s servers giving you the confidence that your information is safe and protected.
ECSI is committed to protecting confidentiality. Therefore, ECSI does not sell personal information about current or former borrowers to anyone. Safeguard provisions have been instituted to ensure compliance with the Gramm-Leach Bliley Act (GLBA). For further information regarding ECSI, please logon www.ecsi.net . Therefore, making payments via "Student Loans ePay" is safe and dependable. Also, all information is encrypted for your protection.
Can I use the "Student Loans ePay" feature at any time?
Yes, the system is available 7 days per week, 24 hours per day except for routine maintenance downtime and while payments are being sent to the bank.
Can I pay my Accounts Receivable bill with the "Student Loans ePay" feature?
No, but you can pay your Accounts Receivable bill with the new Student Loans Accounts Receivable ePay feature. To access this feature:
Link to Student Loan Accounts Receivable ePay
Log in using your Account Number (printed on the bill) and Password.
Your password is initially the PIN# printed on your bill. Both items are necessary to log in.
Please note - Tuition payments cannot be paid with this feature.
For questions regarding your Accounts Receivable bill or Account,
email:bursar@osu.edu or phone: (614) 292-1056
Who do I contact if I want to speak with someone about my loan(s)?
For questions regarding your Student Loan Account or the new "Student Loan ePay" Feature, please email: bursar@osu.edu or phone: (614) 292-1056 and ask to speak with your respective Financial Services Representative (loan counselor).
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