Institutional Loans for International Students
Accepting Loans
All students accepting the College Loan are required to complete a Promissory Note (digitally sign for the loan) once each academic year. This will be completed online with Heartland/ECSI.
First Time Borrowers
- You will receive an email from ECSI with a Pin number, used to authenticate yourself.
- Visit: https://www.ecsi.net/promF68
- Log in. If you do not have a social security number enter 3 zeros and then your student ID number.
- If you haven’t received a PIN number, you may be able to log in with your Zip code, if not, please call ECSI at 1-888-549-3274.
- Book an Appointment with a financial aid counselor. We want to make sure to answer all of your loan questions before you are eligible to receive the funds.
Returning Borrowers
- Sign into your ECSI account.
- Sign your promissory note.
- How do I know what types of loans I have and how much I have borrowed?
You can view your Olaf loans at Heartland/ECSI by creating or logging into your account at any time.
You can reach out to the St. Olaf Financial aid office at finaid@stolaf.edu for confirmation of the types and amount of loans you borrowed.
- What is my interest rate?
Your loan has a fixed interest rate of 5%. Interest will begin upon the loan’s disbursement to your student account and continue until the loan is paid in full.
- When do I need to start making payments?
Upon graduation or withdrawal from the college.
Your loan has a 6 month grace period with the first payment due in the 7th month after graduation or a withdrawal from the college.
You have 60 months to repay your loan beginning with the first payment.
Check with your loan lender (St Olaf College, repayment@stolaf.edu) or loan servicer, (Heartland/ECSI) if you are unsure of exactly when your first payment is due.
- Can I make payments while I am still in school?
Yes, but you don’t have to make payments. You can make payments on your loan at any time by logging into your Heartland/ECSI account.
- Who is my contact for my loans and how do I contact them?
St Olaf College is your loan lender. You can reach out to repayment@stolaf.edu at any time with questions or you can contact the loan servicer Heartland/ECSI:https://heartland.ecsi.net/
Loan Lender Loan Servicer
St Olaf College Heartland/ECSI
1520 St Olaf Ave PO Box 1289
Northfield MN 55057 Moon Township, PA 15108
Phone: 507-786-3296 Phone: 1-888-549-3274
Email: Repayment@stolaf.edu Email: cservice@ecsi.net
- What do I do if I don’t have a job and/or can’t afford my payments?
Contact your loan servicer or lender right away. As per the master promissory note, this type of loan does not have a deferment or cancellation option. You can reach out to the loan servicer, ECSI, to discuss forbearance options.
- Can I defer payment if I transfer to another institution or while in grad school?
No. You should contact the loan servicer, Heartland/ECSI as soon as possible and complete the forbearance request form found on the form page of the Heartland/ECSI website.
Follow the submission instructions on the form and ECSI will notify you when/if you are approved for forbearance.
Your loan has a total of 36 months forbearance available. You must complete a request form. Forbearance is granted for 12 or less months at one time. Each time it expires, you must submit a new request form.
- I just realized I was supposed to start making payments and I have not. What should I do?
Contact your loan servicer or lender right away. Depending on the amount of time that has passed, either they or a collection agency will assist you.
Loan Lender Loan Servicer
St Olaf College Heartland/ECSI
1520 St Olaf Ave PO Box 1289
Northfield MN 55057 Moon Township, PA 15108
Phone: 507-786-3296 Phone: 1-888-549-3274
Email: Repayment@stolaf.edu Email: cservice@ecsi.net
- What do I do when I graduate or transfer out?
The school will notify ECSI, your loan servicer, that you have graduated or are leaving the college.
You will receive exit counseling information from ECSI/Heartland via email from webmaster@ecsi.net. You must complete ALL exit documents.
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- If you are graduating, a hold is placed on your account preventing the release of your diploma and or transcripts until your exit interview is complete.
- If you are transferring, a hold is placed on your account preventing the release of a transcript until the exit interview is complete.
- What is my minimum payment when I have to start making payments?
The minimum amount you can pay is the fixed payment listed in your exit interview truth and lending document.
Your fixed loan payment will depend on the amount you borrowed as well as when you start paying your loan off.
Your exit interview will provide you with a truth and lending statement.
This statement will include the following information:
| Separation Date | Frequency of payment |
| Grace period begins date | Interest rate |
| Grace period end date | Fixed payment amounts due |
| Due date of first payment | Term of your loan (60 months) |