Loan Repayment Information

Educational Computer Systems, Inc. (ECSI) is the loan servicer that is used to manage the loan information and collect loan payments.

ECSI will bill each loan in accordance with the terms of the signed promissory note and repayment schedule. The promissory note that was signed at time of disbursement and a repayment schedule was provided during the exit interview process. Loans are billed monthly following the expiration of your initial grace period and all payments are due on the first of each month.

It is your responsibility to:

1. Make payments on time

If you do not receive a billing statement refer to your repayment schedule for due dates and amounts. When making payments please include your social security number on all remittances, make checks payable to Wayne State University and mail to:

Wayne State University
c/o Educational Computer Systems, Inc.
181 Montour Run Road
Corapolis, PA 15108-9408

Payments also can be made online.

2. Update personal information as needed

If you need to make changes to your name, address or telephone number you can do so by calling ECSI at 888-549-3274. These types of changes can also be updated online or on the space provided on your billing statement, when making changes on the billing statement those changes should be returned to the address provided on the statement.

All forms to request forbearance, deferment (in-school, residency, fellowship, military, Peace Corps), economic hardship, cancellation, postponement and unemployment for all loans can be found here or by contacting the Student Accounts Receivable department via email bursar@wayne.edu.

Interest/grace period

• Annual interest rate 5% after 9 month grace period.

Repayment

Payments are made to WSU’s loan servicer. First monthly payment will be due the month following the 9 month grace period. All payments are due by the first of the month.

Prepayment
The borrower may prepay all or any portion of the principal plus any accrued interest at any time. If you remit more than the amount due for an installment, the excess will be applied to principal unless you designate it as an advance payment on the next regular installment. Note: If paying in advance, you must remit the total installment amount.

Deferments/cancellations (Perkins, Nursing and Health Professions loans)
The borrower should refer to their promissory notes for the specific deferments and cancellations available to them. All deferment and cancellation privileges are discussed during the exit interview and provided with the loan exit materials. A deferment/cancellation can be processed only after timely remittance of a properly certified deferment/cancellation form and all required supporting documentation. The borrower may lose deferment/cancellation benefits if they fail to file the request on time.

Interest/grace period

• Annual interest rate 3% after 9 month grace period,
• Or prevailing market rate if students fails to graduate from the program or fails to establish employment as a full-time nurse faculty.

Repayment
Payments are made to WSU's loan servicer.  First monthly payment will be due the month following the 9 month grace period.  All payments are due by the first of the month.

Prepayment
The borrower may prepay any portion of the principal plus any accrued interest at any time. If you remit more than the amount due for an installment, the excess will be applied to principal unless you designate it as an advance payment on the next regular installment. Note: If paying in advance, you must remit the total installment amount.

Interest/grace period

• Annual interest rate 5% after 12 month grace period

Repayment
Payments are made to WSU's loan servicer.  First monthly payment will be due the month following the 12 month grace period.  All payments are due by the first of the month.

Prepayment
The borrower may prepay all or any portion of the principal at any time. If you remit more than the amount due for an installment, the excess will be applied to principal. Note: If paying in advance, you must remit the total installment amount.

Interest/grace period

• Annual interest rate 6% after 6 month grace period

Repayment
Payments are made to WSU's loan servicer.  First monthly payment will be due the month following th 6 month grace period.  All payments are due by the first of the month.

Prepayment
The borrower may prepay all or any portion of the principal at any time. If you remit more than the amount due for an installment, the excess will be applied to principal. Note: If paying in advance, you must remit the total installment amount.

Federal Requirement

Federal regulations require that students who are no longer enrolled at Wayne State University, enrolled less than half-time, or have graduated must complete an Exit Interview. The Exit Interview is a counseling session that will inform you, the borrower, of your rights and responsibilities in regards to your student loans, including an explanation of repayment. 

The Process

Once you have been identified as no longer being enrolled at WSU you will be separated from the institution and ECSI will email you exit information. Please check your Wayne State email as Heartland ECSI should have sent instructions to complete your online Exit Interview along with a PIN number to access your account on the ECSI Website http://borrower.ecsi.net/

Graduation

After you have applied for graduation you will receive a reminder email informing you of the exit counseling process. You are required to complete the exit interview process before the end of the graduating semester.

Not Enrolled at WSU or Enrolled Less Than Half Time

Each time you are no longer enrolled or enroll in less than half time status you will be required to complete the exit interview. Exit interview information will be sent to you via email from ECSI after the census date for semester.

Exit Holds

Failure to complete the exit interview counseling process will result in an exit hold on your student account. This exit hold will prevent you from receiving your diploma and transcripts. Please make sure to complete your exit counseling upon receipt of the information from ECSI.

More Information

More information regarding the ECSI's Exit Interview process can be found on their FAQ's  page: https://www.ecsi.net/help/faq_exits.html

Consolidation of loans allows a borrower to combine different types of federal student loans to simplify repayment. You can even consolidate just one loan into a Direct Consolidation Loan to get benefits such as flexible repayment options. Apply online.

Questions Regarding Loans

If you have additional questions regarding loans administered by the Office of Accounts Receivable you can contact us at (313) 577-3656.