Is Heartland ECSI a federal loan servicer?

Heartland ECSI isn’t a primary loan servicer for direct student loans from the federal government. Instead, Heartland ECSI services the following types of loans: Federal Perkins Loans. Private Student Loans.

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Additionally, are Perkins loans federally held?

Loans made through the Federal Perkins Loan Program, often called Perkins Loans, are low-interest federal student loans for undergraduate and graduate students with exceptional financial need.

Accordingly, can you defer Perkins loans? Loan Deferments/Forbearance

You may qualify for a Deferment on your Perkins Loan that is not in default. During deferment, you can delay payment with no interest accruing during the deferment period. … Forbearance can be granted in intervals of up to 12 months for a total of 3 years.

Also to know is, do I have to pay back Perkins loan?

If you are attending school at least half-time, then repayment will begin nine months after you graduate, leave school, or drop below half-time status.

How do I contact ECSI?

To find out more information, please contact our Customer Service Team via the Live Chat or call us at 888.549.3274. Sign in or create a profile to view all of your ECSI accounts together.

How do Perkins loans work?

A Perkins loan is a type of federal student loan based on financial need. A Perkins loan is a subsidized loan, meaning that the federal government pays the loan’s interest while you are in school. Under federal law, the Perkins loan program ended and are no longer available to students.

Is a Perkins loan a direct loan?

Offered through the federal government’s Perkins Loans Program, a Perkins loan was a low-interest loan option made available to both undergraduate and graduate students who demonstrated an exceptional need for financial aid. … The program was replaced by Federal Direct Loans, often referred to as Stafford Loans.

Is Ffelp a federal loan?

FFELP student loans are federally backed loans that were originally funded by private companies. The FFEL Program ended with the 2009-2010 academic year to make way for Direct loans and some were purchased by the federal government. There are two types of FFELP loans: Commercially-owned and Education Department-owned.

Is Heartland Ecsi real?

Heartland Educational Computer Systems, Inc., or Heartland ECSI, is a student loan servicer. That means that it doesn’t offer student loans. Instead, it merely collect payments for loans. It partners with more than 1,900 colleges and universities across the country.

What bank is Heartland Ecsi?

Heartland ECSI is a student loan servicer. That means that the company doesn’t offer student loans, but it collects payments for the loans. Many borrowers of Perkins Loans (student loans that are now defunct) will have their loans serviced by Heartland ECSI.

What happened to Perkins loans?

The federal Perkins loan program, which provided low-interest loans to students with exceptional financial need, expired in 2017. … 30, 2017, new Perkins loans are no longer available. They featured a fixed 5% interest rate and, at nine months, a longer grace period than other student loans.

What is Heartland key?

Your Heartland Key is your new account number that is utilized when connecting your EasyPath profile to your Heartland ECSI account. Your Heartland Key is located on all notifications you receive from Heartland ECSI, such as billing statements, letters and emails.

What type of loan is ECSI?

ECSI is a campus-based loan servicer for colleges and universities. Their services include borrower support, billing statement generation, payment processing, due diligence, accounting, reporting and automated collection agency placement.

Where does the money for Perkins loans come from?

Perkins loans were actually granted through the financial aid office of the educational institution the student was attending. The loan was paid either directly to the student (usually by a check) or the loan amount was applied towards institutional charges and qualified educational expenses.

Who owns Federal Perkins Loan?

Contact Your College about Federal Perks Loans

If you already know that the Department of Education owns your Federal Perkins Loan, contact the ESCI Federal Perkins Loan Servicer at 1-866-313-3797.

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