News

January 14, 2001
ECSI is pleased to announce the release of our Direct Payment service. Starting today, borrowers can make payments on their student loan debts electronically, direct from their checking or savings account.

Borrowers can make either one-time payments or regular, scheduled payments (similar to our ACH program). Borrowers can also control the distribution of payments across debts. Any overage is automatically applied to principal.

The new Direct Payment additions coincide with the latest release of the borrower's "My Account" system. This is the third major revision to the application since April 2000. The most notable enhancement in this version is the addition of 448-bit encryption of All borrower information. Everything from loans, to demographics to banking and payment information is stored using a very-high level of encryption.

Borrowers will find the new Direct Payment system on the main My Account page (presented after login). Clients may also review the Direct Payment feature, as well as the rest of the "My Account" system from the "Client" page.