I, Joe A Lange, promise to pay to ECSI University the sum of all amounts that are advanced to me as set forth in the Schedule of Advances below (the "Loan"), plus interest and other charges and fees that may become due as provided in this Promissory Note (the "Note").


The following amount(s) were advanced to me under this Note on the date(s) indicated:




$ 1,500.00

FALL 2017


$ 1,500.00



I understand and agree that:

  1. I understand and agree to all of the terms and conditions of this Note. I understand and agree that at or before the time of the first disbursement under this Note, one or more disclosure statements will be provided to me setting forth additional terms of the Note, each of which is hereby incorporated into this Note. ECSI University and I shall execute this Note without security and without endorsement. A copy of this Note shall is available to me and, upon request, ECSI University shall provide a paper copy of this Note to me. This Note is a signed and sealed instrument.


  1. I promise to pay to ECSI University all sums disbursed under the terms of this Note together with interest at the annual percentage rate of five percent (5%) in successive equal monthly installments during the repayment period; provided, however, that in no event shall monthly payment amounts be less than fifty dollars ($50). The repayment period shall be the period of ten years beginning on the first day of the sixth full month after the date on which I cease to be a half-time student at ECSI University. Interest shall accrue from the beginning of the repayment period.


  1. I understand that the amounts advanced to me under this Note may be made in one or more disbursements. I understand that by accepting any disbursement made under this Note, I agree to repay the Loan. I understand that each disbursement is separately enforceable based on a true and exact copy of this Note. I understand that I may cancel or reduce the amount of the Loan by not accepting or by returning all or a portion of any disbursement within the time period stated by ECSI University; provided, however, that any such reduction or cancellation shall not alter my obligation to repay other amounts disbursed to me under this Note.


  1. I may at my option without penalty prepay all or any part of the principal plus accrued interest at any time.


  1. Subject to the provisions of this Note, I acknowledge and agree that I will be in default under this Note and ECSI University will have the right to give me notice that the whole outstanding principal balance, accrued interest and all other amounts payable to ECSI University under the terms of this Note are due and payable at once, and cease to make further disbursements to me under this Note if: (a) I am more than 180 days past due (late) in paying an installment when due; (b) I break any other promises in this Note; or (c) I provide any false written statement to ECSI University or its agents in connection with this Note at any time during the term of this Note.

    If I am in default, interest will continue to accrue on amounts due under this Note after the event of default. My failure to receive a billing notice statement does not relieve me of my responsibility and obligation to make the required payments for amounts due under this Note.

    In the event of my failure to pay any installment when due, I agree to (a) reimburse ECSI University for the fees of any collection agency, which may be based on a percentage of the amounts due under this Note, provided that such percentage shall not exceed 40%, and (b) pay ECSI University all other costs and expenses incurred in ECSI University's collection efforts, including reasonable attorney's fees.

    Notwithstanding anything herein to the contrary, and so long as ECSI University has not referred this Note for collection to an outside collection agency, I will cease, at the discretion of ECSI University, to be in default if I pay ECSI University all payments then due, but unpaid, under the Note. If I pay all payments due, but unpaid, under this Note before this Note has been referred for collection to an outside collection agency, I will no longer be in default and I shall continue making payments on this Note in accordance with the provisions of this Note.


  1. In the event that I die, ECSI University's receipt of a certified death certificate will result in cancellation of the entire amount of the Loan. If I become totally and permanently disabled, the entire amount of the Loan may, in the sole discretion of ECSI University, be canceled after ECSI University's receipt of documentation requested by ECSI University.


  1. Upon my request, ECSI University may defer my obligation to repay the Loan while I am at least a half-time student at an eligible institution of higher education, provided that ECSI University has received documentation with such information and in such form as ECSI University requests.


  1. ECSI University in its sole discretion may, upon my application, defer or reduce any scheduled repayments if extraordinary circumstances, such as prolonged illness or unemployment, prevent me from making such repayments. During any period in which ECSI University has agreed to defer or reduce my obligations to make any payments, interest on this Note may, at ECSI University's option, continue to accrue and may be added to the principal amount due under this Note.


  1. I will inform the ECSI University Loan Office or its billing servicer of any change in my residential address, email address and telephone numbers, including but not limited to my mobile telephone number. I authorize ECSI University and its agents and contractors to contact me at my current and any future residential address(es), mobile phone number(s), email address(es) or wireless device(s) regarding payments due under this Note, or any other debt I owe ECSI University, including without limitation contact by using automated telephone dialing equipment or artificial or pre-recorded voice or text messages, personal calls and email.


  1. I understand that this Note is part of an education loan program which is financed in whole or in part by ECSI University for the purpose of financing my costs of attendance at ECSI University, and I agree to use the proceeds of this Note solely for such purpose. I acknowledge that the amounts due under this Note may be subject to limitations on dischargeability in bankruptcy contained in the United States Bankruptcy Code.


  1. I authorize ECSI University and its agents and contractors to, and agree that each may, obtain and use one or more consumer reports (credit report) about me from a consumer reporting agency (credit bureau) in connection with this Note during the term of the Note. Upon my request, I will be informed whether or not ECSI University obtained a consumer report about me, and if so, the name and address of the consumer reporting agency that furnished the report. ECSI University and its agents and contractors may report information about this Note to credit bureaus. I acknowledge that late payments, missed payments, or other defaults by me under this Note may be reflected in my credit report. I am hereby notified that a negative credit report reflecting on my credit record may be submitted to a credit reporting agency if I fail to fulfill the terms of my credit obligations under this Note. ECSI University is committed to furnishing complete and accurate information about credit accounts, including this Note, to consumer reporting agencies. If I believe the information ECSI University reports about me with respect to this Note is inaccurate, I will write to: ECSI University P.O. Box 1278 Wexford, Pa 15090, or such other address which ECSI University may provide to me in writing.


  1. My responsibility for repaying this Note shall be unaffected by ECSI University's failure to notify me that a required payment has not been made. Without losing any of ECSI University's rights under this Note, ECSI University may accept late payments and/or partial payments, even if marked "paid in full." ECSI University will not be obligated to make any demand upon me, send me any notice, present this Note to me for payment or make protest of nonpayment to me before suing to collect this Note if I am in default, and I hereby waive any right I might otherwise have to require such actions. This Note shall be deemed to have been made in Massachusetts and shall be governed by Massachusetts law, without regard to conflict of laws rules. This Note may not be amended without the written consent of ECSI University and me. I may not assign this Note or any of its benefits or obligations. ECSI University may assign this Note at any time. If any provision of this Note is held invalid or unenforceable, that provision shall be considered omitted from this Note without affecting the validity or enforceability of the remainder of this Note. I acknowledge and agree that failure by ECSI University to exercise any right hereunder with respect to any failure or breach of me shall not constitute a waiver of the ECSI University's rights as to any continuing or subsequent breach or failure.

My signature certifies that I have read, understand and agree to the terms and conditions of this Note, that it is a sealed instrument, and that any information I provide hereunder is true and correct.




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Permanent Address

100 Global View Drive

Warrendale, PA 15086

Social Security Number

999-99-9999 ***-**-2209


Below is a history of this promissory note's activity. A description of each item can be found in the Activity Description document.




Loaded to Website






Requirement and Consent



Rights and Responsibilities



Reference Information



Electronically Signed Draft

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Most Recent Review

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