Electronic Billing

ECSI will offer borrowers the opportunity to receive and pay their bills electronically. Our new E-Bill and E-Pay services are fast, easy and above all convenient!

E-Bills
Electronic Billing (E-Bill) allows instant access to your billing statement! Borrowers on electronic billing often can review their billing statements hours before the paper statements are even printed.

Contrast "Electronic Billing" with the "old way" of doing business. ECSI can usually print, stuff and mail statements within 24 hours. These billing statements are delivered to our United States Postal Service (USPS) regional mailing center. We all know a story of a card or letter that arrived late. To be fair, the USPS processes billions (yes, with a 'b') of pieces of mail and it is only a very small percentage that do not make it to their destination on time. Of course, on time can be anywhere from one to four days or more! With E-Bill, your electronic billing statement is available immediately after we create the bill.

Borrowers have several choices when subscribing to electronic billing.

  1. Every borrower can always review their bill on-line at ECSI's web site. The advantage to you is there is no delay in receiving your bill. Should you ever misplace your billing statement, simply print off a copy from our web site.
  2. Borrowers have the opportunity to have the bill delivered through electronic mail (Email) -- you won't even have to surf to our web site to get your details.
  3. If you use a shared or public computer, you may not want your billing statement to come directly to your mailbox. For those individuals, you can simply request to receive an email notice reminding you to come to our web site and review your information.

E-Pay
Some of you may be familiar with ECSI's ACH service. A borrower can fill-out a paper application requesting a fixed payment be withdrawn from their checking account each month to pay their student loan debt. Thousands of borrowers use ACH because of the convenience. Unfortunately, ACH does not allow any adjustments unless accompanied by a signed, paper form. Every change you make requires a new form which can take 4-6 weeks to process. In most cases, the delay is due to the billing cycle ECSI uses with ACH. ACH is only processed once a month and if your request misses the deadline, it will not be processed until the following month. If you never change anything, ACH is a very convenient and viable way to pay your debt electronically.

Electronic Payments (E-Pay) utilize a modified form of our existing ACH program, whereby borrowers can make payments on their student loan debts electronically, directly from their checking account. Think of it as an On-Demand version of our current ACH program. You determine the date and the amount of the withdrawl. Our system defaults to your minimum monthly payment but you can decide any amount you desire -- up to and including the total unpaid balance. E-Payments can be made any time of the day, any day of the month. All electronic payments made by 4 P.M. (Eastern time) will be processed that business day. If you participate in our E-Pay service, this is how the process works:

  1. You will receive an Email notice (or bill, your choice) with a link pointing you back to ECSI's web site.
  2. Use the link in the Email or return to the "My Account" portion of the borrower site.
  3. Identify yourself (with your login information)
  4. You are presented with a simplified version of your billing statement to review. When you are satisfied that the charges are correct, you may either:
    1. Press one "Pay Me" button to accept the monthly minimum payments and your payment will be automatically processed
    2. You may adjust the payment amount on any or all of your loans. You will be required to make at least the minimum monthly payment but you can add any amount. You can also specify that any additional amounts be used to reduce your principal or be applied to your next payment. When you press the "Pay Me" button, you will be asked to confirm your entries.

Either payment method is fast, convenient and safe! ECSI has invested many resources to ensure that our borrowers can use our electronic services with complete confidence. It seems like every day a "Hacker Attack" makes the nightly news. ECSI has taken the following protective measures:

  1. state-of-the-art hardware and software
  2. production systems and databases isolated from the Internet
  3. 128-bit encryption offered to all visitors to our site
  4. all banking and payment data encrypted with military-grade 448-bit encryption

Sign Up Now!
If you have never participated in our ACH program, the sign up process will take only a few moments. You will need a blank check in front of you to gather the information needed to complete the application. If you are already using our ACH service, signing up for E-Payments is a breeze. Your current ACH information is presented and you verify that the banking information is still accurate. Select one of the two billing options an you're done!

If you are interested in trying our E-Bill or E-Pay services, you can find additional documents including a Frequently Asked Question guide in the Borrower section of our site.

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