Students that leave St. Olaf with an unpaid account balance, institutional loans, or federal Perkins or nursing loans enter the college’s collections process managed by the Student Accounts office. Please review the information below to learn about the repayment and collections processes.
Please do not ignore communications from St. Olaf, ECSI, or our collection agencies. It is never a good idea to put off these issues as they can have serious impacts on your finances and credit.
For information on repaying federal direct loans, please review this page.
Tuition Repayment
Former students or graduates that leave the college with a balance on their tuition account should work with the Student Accounts office to pay that balance. Balances may continue to accrue 0.5% monthly finance charges, and students may have holds that prevent registration or the release of a diploma until the account is paid in full.
To inquire about previous tuition accounts, please contact the Student Accounts office at 507-786-3296 or repayment@stolaf.edu.
Please keep in mind that written permission must also be submitted to if another individual wishes to discuss your tuition/comprehensive fee accounts.
If you don’t keep your contact information up to date and the college is unable to reach you regarding your account balance, your account may be placed with an outside collection agency which can negatively impact your credit.
Payment Methods
Online Payments
You can make a payment online our one-time payment portal. You will need to enter your St. Olaf email or student ID number to submit a payment.
Mailing Payments
Make your check or money order payable to St. Olaf and mail it to:
Student Accounts
1520 St. Olaf Avenue
Northfield, MN 55057
Please include your name and student ID number with any mailed payments.
PAYMENT PLANS
St. Olaf is willing to work with students to set up a payment plan that fits their financial situation. Reach out to repayment@stolaf.edu if you are interested in setting up a payment plan.
Contact Information
| ST. OLAF COLLEGE: STUDENT ACCOUNTS | |
|
Student Accounts |
Student Accounts Office |
Collections
Your account may be considered delinquent and/or in default if you fail to make one or more scheduled payments when due. If this happens, your account may be placed with an outside collection agency.
From the time your account is placed with a collection agency, you have 60 days to contact the agency and work with them to bring your account current before your debt is reported to a credit bureau. This can have a negative impact on your credit.
The collection agencies St. Olaf works with submit reports to the following credit bureaus:
- National Credit Management: Experian, TransUnion, and Equifax
- Second Alliance: Experian and TransUnion
- William’s and Fudge: Equifax
Contact Information
| NATIONAL CREDIT MANAGEMENT (NCM) | SECOND ALLIANCE | WILLIAMS & FUDGE |
|
National Credit Management 800-526-3213 |
Second Alliance 800-830-7570 |
Williams & Fudge 800-551-5772 |
Policies & Forms
Frequently Asked Questions
What happens if I leave the college with a balance on my account?
Your account may be considered delinquent and/or in default if you fail to make one or more scheduled payments when due. If this happens, your account may be placed with an outside collection agency.
What happens if I don’t make payments?
From the time your account is placed with a collection agency, you have 60 days to contact the agency and work with them to bring your account current before your debt is reported to a credit bureau. This can have a negative impact on your credit.
The St. Olaf College Loan is generously funded by donors to the college. Each payment received, helps future international students have the option to borrow.
Exit Counseling
Exit counseling is required by law. Exit counseling provides important information that you will need as you prepare to repay your loan. During exit counseling you will review the terms and conditions that apply to your loan, be introduced to your prepayment plan and learn important information to avoid default. The purpose of exit counseling is to ensure you know your rights and responsibilities as a loan borrower who must begin repaying the loan back within 6 months of departing St. Olaf.
Loan exit counseling is required by any student who is dropping below half time, withdrawing from St Olaf, taking a leave of absence, transferring, or graduating from St. Olaf College. Graduating students will not receive their diploma until their exit counseling is done.
Students can complete exit counseling online by following the steps below:
-
- Sign in or create an ESCI account.
- Click on “Connect An Account” and provide your Heartland Key. You will be redirected once this is complete.
- Select the school name, then click “View Account”.
- Your exit interview will be listed under the “Documents” tab.
- Reach out to ECSI/Heartland directly with any questions.
You MUST change your contact information during the exit counseling process. Do NOT list your St. Olaf email or physical address as your contact information.
If you don’t keep your contact information up to date and the servicer or college is unable to reach you regarding your loan, your account may be placed with an outside collection agency which can negatively impact your credit.
Repayment
College loan borrowers have a six month grace period after graduating or withdrawing before the payments begin. The first required payment occurs in the seventh month after leaving St. Olaf. There is no penalty for repaying early.
The repayment period is generally five years, but it may vary depending on your monthly payments. The specific payment schedule is provided during the exit process. A signature is required to acknowledge receipt of the repayment schedule and to receive your diploma.
You can access your ECSI account anytime to view your loan account status, update your contact information, make payments, and download important forms.
| GRACE PERIOD | REPAYMENT SCHEDULE | FIRST PAYMENT |
| 6 months | 5 years* | 7th month after leaving St. Olaf |
| INTEREST RATE | MINIMUM MONTHLY PAYMENT | LATE FEES |
| 5% fixed rate | Refer to your exit counseling documents | $4 per month |
*Your repayment schedule may vary depending on your monthly payments or use of forbearance.
While there are no deferment or cancellation benefits for this loan, if you are experiencing a hardship, please contact ECSI to determine if your payments can be be temporarily reduced or halted. If you have additional questions or concerns, please reach out to repayment@stolaf.edu.
ESTIMATED MONTHLY LOAN PAYMENTS
Payment Methods
Online Payments
You can make a payment online through your ECSI account.
Mailing Payments
Make your check or money order payable to St. Olaf and mail it to:
St. Olaf College
c/o ECSI
P.O. Box 718
Wexford, PA 15090
Please include your student ID number in the memo section of your check or money order. If you are providing instructions for the application of your payment, please include these instructions in a separate letter with your payment to allow for timely processing. Please do not write instructions on your check or money order.
Contact Information
| LOAN HOLDER: ST. OLAF COLLEGE | LOAN SERVICER: ECSI |
|
Student Accounts Student Accounts Office |
St. Olaf College ESCI Customer Support* |
*Live student loan specialists are available Monday to Friday, 7:30 AM – 9:00 PM Eastern Time.
Please note that because of privacy laws and regulations, only borrowers (students) may contact ECSI or St. Olaf College regarding their loans. However, borrowers may submit written authorization to allow other individuals to discuss their account with ECSI and St. Olaf College representatives.
Collections
Beginning in the second month of failing to make a payment, students are charged $4 per month in late fees.
Your loan may be considered delinquent and/or in default if you fail to make one or more scheduled payments when due. If this happens, your account may be placed with an outside collection agency.
From the time your account is placed with a collection agency, you have 60 days to contact the agency and work with them to bring your account current before your debt is reported to a credit bureau. This can have a negative impact on your credit.
The collection agencies St. Olaf works with submit reports to the following credit bureaus:
- National Credit Management: Experian, TransUnion, and Equifax
- Second Alliance: Experian and TransUnion
- William’s and Fudge: Equifax
Contact Information
| NATIONAL CREDIT MANAGEMENT (NCM) | SECOND ALLIANCE | WILLIAMS & FUDGE |
|
National Credit Management 800-526-3213 |
Second Alliance 800-830-7570 |
Williams & Fudge 800-551-5772 |
Policies & Forms
Frequently Asked Questions
Does this loan require a co-signer?
What is a loan servicer?
When do I have to start making payments?
How much do I have to pay each month?
How long do I have to make payments for?
If interest accrues from the disbursement date, but repayment does not start until a later date, what happens to accrued but unpaid interest?
If a student has more than one loan, is the repayment schedule prorated between all of the loans?
What happens if I can’t make a payment?
We will do our best to work with you and figure out a path forward.
What is forbearance?
Interest continues to accrue during the forbearance period. When the forbearance period is over, the interest that accumulated during that time is due in full along with the first loan payment
You may request forbearance for up to 12 months at a time with a maximum 36 months total.
For economic hardship, monthly payments may be reduced for six-month intervals for a period of up to three years (36 months).
ECSI, St. Olaf’s loan servicer works with students on forbearance. Follow the instructions on this page to apply for forbearance.
Refer to your promissory note for details, and contact ECSI with questions and to apply.
What happens if I stop making payments?
Your loan may be considered delinquent and/or in default if you fail to make one or more scheduled payments when due. If this happens, your account may be placed with an outside collection agency. This can have a negative impact on your credit.
Can I utilize federal loan consolidation?
The Federal Perkins Loan Program officially ended in 2018, meaning new loans are no longer being issued. Students with existing Perkins Loans must continue to repay them.
Loan Repayment
St. Olaf is the loan holder for Federal Perkins and Federal Nursing loans. ECSI is your loan servicer.
You can access your Perkins or Nursing loan accounts anytime to make payments, view your loan account status, update your contact information, and download important forms.
Getting directly in touch with your ECSI is the best way to move forward.
Payment Methods
Mailing Payments
Make your check or money order payable to St. Olaf and mail it to:
St. Olaf College
c/o ECSI
P.O. Box 718
Wexford, PA 15090
If your Perkins Loan has been assigned to the Department of Education, you should mail your check to:
U.S. Department of Education
ECSI Federal Perkins Loan Servicer
P.O. Box 6200-31
Portland, OR 97228
You can make a one-time payment or set up automatic payments through your ECSI account.
Contact Information
| LOAN HOLDER: ST. OLAF COLLEGE | LOAN SERVICER: ECSI |
|
Student Accounts Student Accounts Office |
St. Olaf College ESCI Customer Support* |
If your Perkins Loan has been assigned to the Department of Education, they are your loan holder, but ESCI is still your loan servicer.
| LOAN HOLDER: U.S. Department of Education |
|
U.S. Department of Education ESCI Customer Support* |
*Live student loan specialists are available Monday to Friday, 7:30 AM – 9:00 PM Eastern Time.
Please note that because of privacy laws and regulations, only borrowers (students) may contact ECSI or St. Olaf College regarding their loans. However, borrowers may submit written authorization to allow other individuals to discuss their account with ECSI and St. Olaf College representatives.
Forms
When you open the page, you will need to type in “Saint Olaf” under “School Name” to get the correct result.
This is where you will find the specific applications for:
- Deferment: postponing payments with no interest accrual
- Forbearance: postponing payments while interest accrues
- Cancellation/Forgiveness
- If you have a Perkins Loan and your current or future job involves teaching, nursing, law enforcement, or family services, it is highly recommended that you fill out the appropriate form to maximize your loan forgiveness benefits.
Frequently Asked Questions
What is a loan servicer?
What do I do if my loan has been assigned to the Department of Education?