News
May 26, 2000
To comply with the recent regulations concerning Perkins loan rehabilitation, ECSI will send notices to borrowers in default starting with the May 31, 2000 billing statements. A copy of the
"Dear Borrower" letter is available for your review. Per regulation, a similar notice will be given to borrowers who, in the future,
default on their Perkins loan. In addition, this information will be made available on ECSI's web site for the convenience of the borrower.
As previously announced, we will send a notice to any borrower:
- in default by one month or greater
- not placed with a collection agency
- not in bankruptcy
Agencies are expected to notify borrowers placed with their agency. If your agency is incapable or unwilling to notify your borrowers, please contact ECSI for assistance.
Additional information on Rehabilitation can be found in the following ECSI documents:
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