Who are we?
Educational Computer Systems, Inc. (ECSI) is the loan servicer for your institution. We perform billing, payment and record keeping for your institution. The information you will be presented during this interview comes from the information provided by your institution.

Things You Need to Know
Now that you're leaving school (or dropping below half-time attendance), it's important to brush up on the details of your Perkins student loan. Among the most important points:

1. You MUST pay back your loan. That is true no matter what your circumstances -- even if you don't finish school, you don't get a job after leaving school, or your education didn't meet your expectations. If you pay on time, you build a good credit history, which makes it easier for you to borrow money in the future. If you don't pay, however, you will face serious consequences.
2. Your school is your lender for Perkins loans -- so keep them informed. Stay in close touch with the financial aid professionals there. Contact them, or their billing service, with any changes in your name, address, phone, employment situation, etc.
3. Staying informed can make a big difference. Keep your records accurate and organized, so you can resolve problems more easily. Know the amount of your student loan payments -- and when they begin. Read all information carefully. Keep copies of any promissory notes you sign: they tell you the total amounts borrowed, and the names and addresses of the institutions from which you borrowed.
4. If you have trouble making payments, help is out there. In fact, you have several options for resolving difficulties. The first step is to contact your school or its billing service immediately at the first sign of trouble.
5. It helps to develop a budget now. This helps you manage your debt. It also prepares you to manage your student loan payments when you're done with school.

Now, please read the rest of this counseling session. An exit interview is a federal requirement for anyone who is graduating, withdrawing from school, or dropping below half-time status. Reading this session fulfills the requirement.

What Is a Perkins Loan?
A Federal Perkins Loan is a low-interest (five percent) loan for both undergraduate and graduate students with exceptional financial need. The loan comes from government funds, with a share contributed by the school. As a result, your school -- or its billing service -- is your contact for everything about your Perkins loan (your bank lender is your contact for Stafford loans and the federal government is your contact for Direct Loans).

What Happens After I Leave School?
Several steps take place after you leave school or drop below half-time attendance. First, you get a grace period -- a period of time (nine months) when you don't have to make payments. (Of course, you can repay your loans any time you want, without penalty.) During the grace period, no interest is added to your loan.

What if you re-enroll in school? It depends on when you do it. If you re-enroll at least half-time during this grace period -- and you file for deferment (for more information about deferments, see below) -- you get another nine-month grace period the next time you drop below half-time. If you re-enroll after the grace period, however, your next grace period will only be six months.

During the grace period, the school or its billing service will send you a repayment schedule, which tells you the interest rate, payment amounts, and payment methods. The methods may include:

1. ACH (Automated Clearing House) -- an automatic deduction each month from your checking or savings account. You'll save money by not writing a check or paying postage.
2. Billing statements -- sent each month as a convenient reminder.
3. Coupon books -- you receive a supply of coupons to send in with your monthly payments.

One month after the grace period, your first payment is due. The Federal Perkins Loan usually carries a minimum monthly payment of $40; your payment may be higher, depending on your loan balance. The maximum repayment period is 10 years. Your school may be on a quarterly payment cycle. In this case, your minimum quarterly payment (due every 3 months) is $120.

What Do I Owe?
Be sure you know how much you owe! If you are unsure of your total loan amount (shown below), contact your school or your billing service. Now is the time to resolve any discrepancies and to ask questions! Your school requires that you sign your repayment schedule. By completing this on-line exit interview, you will satisfy that requirement. Your school is responsible for providing a copy of your promissory note. The school has the option to provide an image of the promissory note as part of this on-line exit interview, or providing it separately.

We currently show you are responsible for the following loans:

• Federal Perkins Loan (PER22A) - 1,500.00

If you believe that the list of debts shown above is not correct, you must contact your school.