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Student Loans ePay FAQs |
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How do I log into the "Student Loans ePay" feature?
What FORMS OF PAYMENT can I use to pay using the "Student Loans ePay" feature? This feature allows for payments to be made by: 1) 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 2) schedule a future ACH payment for the first, tenth, or twentieth of each month, or 3) 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 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 Student Loan Services/Accounts Receivable at loanservice@osu.edu or (800) 635-8944 to have your payment verified and your 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 hold 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 Student Loans 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, or 20th of the month) or b) daily ACH? Due to the monthly system processes and calculations
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 Student Loan Services at 1-800-635-8944 and speak to your counselor. They can review your account and provide needed answers! You would need to email loanservice@osu.edu or phone (800) 635-8944 or (614) 292-1056 and request a PIN letter be issued and mailed to your address. 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 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. Payments are generally processed within 5 business days. 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?"
Is using the "Student Loans ePay" safe? When you click on the "Student Loans ePay" link on the Office of the Treasurer's website, you will be directed to the website of the Educational Computer Systems Inc. (ECSI) to make your payment. OSU utilizes their computer system "Stand A Loan" (SAL) to administer student loans. The Office of the Treasurer has been in partnership with ECSI since 1993. 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 . 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 down time 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: 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: loanservice@osu.edu or phone: (800) 635-8944 (toll free) or (614) 292-1056 and ask to speak with your respective counselor. |
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Website Administrator's Contact: webadmin_trea@osu.edu
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