University-administered loan payments
You will receive monthly billing statements from the University's
servicer, Educational Computer Systems, Inc.
(ECSI), for repayment of any University-administered loans you received
while attending the Twin Cities, Morris, and Crookston campuses (The Duluth
campus has its own billing service). Those loan programs include: Federal Perkins Loan, Health
Professions Student Loan (HPSL), Nursing
Student Loan (NSL), Primary Care Loan (PCL), and University Trust Fund Loan (UTFL). (The University does not service FFEL Stafford,
William D. Ford Direct, Student Educationl Loan Fund (SELF), or Parent and Graduate
PLUS loans.) Deferment forms are printed on the back of each statement.
Use your ECSI PIN (not your federal aid PIN number), included
with the billing statement, to access your ECSI
account online. If you do not have a billing statement, please contact
Student Financial Collections to have your PIN mailed to you.
Your billing statement, along with a return envelope, will
be sent to you early each month. If you have multiple loans in repayment, you
will receive one statement for all of your University-administered loans. Payment
must be received in person or by mail on the first day of the following month
by SFC. Postmarks are not considered proof of timely payment.
If you do not receive a bill, you are still expected to make
a payment. Send your check or money order with your name and University student
ID or social security number to SFC at the address below. Your canceled check
is your receipt.
Early payment: You may pay without penalty all or any part of the loan
principal and accrued interest at anytime before it becomes due.
Automatic payments—Your monthly payment may be automatically deducted
from your checking or savings account via a banking industry system, Automatic
Clearing House (ACH). You can sign up for this secured service at the Educational
Computer Systems, Inc.,
(ECSI) Web site; or request an ACH application from SFC; or mail the ACH
application provided on the back of your monthly billing statements. You must
provide an e-mail address that ECSI can use to send a monthly notice when your
e-billing statement is available online.
Payroll deduction—If you are an employee of the University of Minnesota,
you may choose to make your payments by completing and submitting to SFC the Payroll
Deduction Authorization.
One-time electronic bank transfer—You can do a same day, one-time
electronic loan payment transfer from your checking or savings account for a
$1 fee. Sign into the ECSI Web
site to make this transaction. Your payment will then be transferred to
the University.
Pay by credit card—ECSI will also accept credit card payments.
A sliding-scale transaction fee, based on your loan amount, is charged for this
service. Sign into the ECSI Web
site to make these transactions. Your payments will then be transferred
to the University.
Pay in person—Payments can be made in person by check or
money order only for the exact amount you want to apply to your loan balance
(SFC does not provide change for money amounts) at the SFC office in
20 Fraser Hall, East Bank campus.
Pay by mail—Mail a check or money order for the exact amount you
want to apply to your loan balance. Your payment must arrive in SFC offices
before or on the due date. Postmarks on the due date are not valid. Your canceled
check or duplicate copy of your money order is your receipt for payments mailed
to us. Use the pre-addressed return envelope sent with your billing statement
or, if necessary, address an envelope directly to SFC's mailing address, as
follows:
When enclosing payment with a billing statement stub, send to:
University of Minnesota, Twin Cities
Student Financial Collections
P. O. Box 194
Minneapolis, MN 55440-0194
When enclosing correspondence or sending a payment without a billing statement,
send to:
University of Minnesota, Twin Cities
Student Financial Collections
20 Fraser Hall, 106 Pleasant St. S. E.
Minneapolis, MN 55455-0294
Please do not hesitate
to contact Student Financial Collections if you
have concerns or questions about your ability to repay your loans on schedule.
