Billing
You will receive a monthly billing statement for the amount due on your University-administered loan(s) from a University contractor, Educational Computer Systems, Inc. (ECSI), unless you are making electronic payments. In that case, ECSI will send an e-mail notice to you when payments are deducted automatically. All of your University loans (includes Health Professions, Nursing Student, Perkins, Primary Care, and University Trust Fund loans that you accepted while attending the Twin Cities, Morris, and/or Crookston campuses) will be listed on one statement. Loans disbursed by the Duluth campus are billed separately. Because the University does not service them, the following programs are not included on your statement: FFEL Stafford, William D. Ford Direct, Student Educational Loan Fund (SELF), or Parent and Graduate PLUS.
Your statement (or e-mail) will arrive early each month. Payment must be received by Student Financial Collections (SFC), the University office responsible for collecting your loan payments, on the first day of the next month. If you do not receive a bill, you are still expected to make a payment. Use the pre-addresssed return envelope provided and be sure to include the bill stub from the statement—if you have one—with your payment. Always include your name and student ID (account number) or social security number with any correspondence or payments you send to the University.
Payment methods
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 be delivered to the SFC office before or on the due date. (In other words, your payment will be late if you mail it on or after the due date. Having a payment postmarked on the due date is not sufficient.) 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:
Student Financial Collections
Minneapolis,MN 55440-0194
When enclosing correspondence or sending a payment without a billing statement, send to:
Student Financial Collections
Minneapolis,MN 55440-0294
Monitor your balance
You may monitor your loan payments and balance by accessing your loan account online at ECSI.net with your ECSI personal identification number (not your federal aid PIN number). Your ECSI account PIN is printed on the billing statement. If you do not have a statement, please contact an SFC representative to have your PIN mailed to you.