Loan Collections

 

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LOAN SERVICING

Educational Computer systems, Inc. (ECSI) is Ferris State University's Loan Servicer/Biller for Perkins, Health Professions, Nursing, and Institutional Loans. Customer service is available from their website at heartland.ecsi.net including virtual 24/7 chat or toll free by phone at (888) 549-3274. ECSI is your first point of contact for questions for Perkins, Health Professions, Nursing, and Institutional Loans regarding:

• Loan customer service, including billing statements, setting up automatic payments, loan payoff amounts, updating billing/contact information, and assistance with online account access. Visit ECSI's Student Loan Accounts Page for more information.
• Loan deferment and forbearance for past due loans. This may include deferments for economic hardship, unemployment, general forbearance, and student deferment as examples. For more information, visit Ferris State University's Forms Page on ECSI's website.
• Loan cancellation and deferment due to specific types of employment or service. For more information, visit Ferris State University's Forms Page on ECSI's website.
• Loan rehabilitation
• Loan credit reporting

Outside collection Agencies that your Ferris State University loan account may be placed with:

Outside Collection Agency	Contact Information
ConServ (Continental Service)	1-800-724-4439
Reliant	1-866-738-3178
Schuerger Law Group	1-855-277-7798

defaulted loans

Perkins Loans are considered defaulted after 8 months past due (240 days). Health Professions and Nursing Loans are considered defaulted after 4 months past due (120 days). Ferris State University Institutional Loans are considered defaulted after 4 months past due (120 days).

Once a borrower’s loan becomes past due, it is referred to a collection agency. The borrower will receive written notification of their past due loan balance and is required to pay the past due portion of the loan within 30 days from the date of notice. Past due balances not paid within 30 days will be fully accelerated and referred to an outside Collection Agency. If your loan is fully accelerated, the entire principal balance plus interest, late fees, penalty charges and/or collection costs will be due. The past due status of your loan(s) are reported to a credit bureau on a monthly basis.

A registration hold may be placed on your account due to a past due loan balance.

loan consolidation

You may request a consolidation of your federal loans into a new loan that may offer you several advantages such as lower interest rate and/or payment, one lender and one monthly payment and no minimum/maximum loan amounts or fees. If you are interested in consolidating your loans, please visit the following site: studentaid.gov/loan-consolidation/