All loan documentation must be completed electronically. Do not submit paper documents! This will delay disbursement of your money.
Within a week of "accepting" institutional loan(s) offered in your OUFAN, you will receive an email notification with a link to Heartland.ecsi.net to complete your loan documentation. Student Loan Services assists borrowers and cosigners with institutional loan questions. For assistance with federal student loans, please contact the SFC at (405) 325-9000.
1000 Asp Ave., Buchanan Hall, Room 208
Norman, OK 73019-4071
Phone: (405) 325-5876
Fax: (405) 325-7665
As a student loan borrower, you have certain rights and responsibilities pertaining to your loan. The primary function of this page is to provide up-to-date information on borrowers' rights, responsibilities, and payment options available for each type of student loan available.
Your Rights as a Borrower:
Your Responsibilities as a Borrower:
To review your loan information visit heartland.esci.net. All monthly loan statements will come from ECSI, OU's third-party vendor. For questions, please contact Student Loan Services at (405) 325-5876 or email us at studentloanadmin@ou.edu.
When you currently have a Perkins Loan, we invite you to review the following information. Should you need assistance with finding information, please contact us. Perkins loan is a federally mandated loan with a current interest rate of five percent. The loan is subject to the following provisions:
When you were awarded a Federal Perkins Loan, this is to notify you that recent federal legislation has added new military deferments for borrowers. The Master Promissory notes signed after June 30, 2006 contain detailed information about these deferments. When you signed a promissory note prior to then, the information is summarized below.
Effective July 1, 2006, a new military deferment was created, effective for Perkins loans for which the first disbursement was made on or after July 1, 2001. As of July 1, 2006, a qualified borrower may receive a deferment for a period in which he or she met the qualifications after July 1, 2001. The deferment shall not exceed a total of three years and applies only to periods during which borrowers are serving on active duty during a war or other military operations, or national emergency, or performing qualifying National Guard duty during a war or other military operation or national emergency.
Consolidation is refinancing all of your federal student loans into one loan through a private lender. This new loan will have a new interest rate, payment terms, and monthly payments. The following federal student loans are eligible for consolidation: Federal Stafford loans, Federal Direct loans, Federal PLUS loans, Federal SLS loans, Federal Perkins loans, Health Professional Student loans (HPSL) and Nursing School loans (NSL).
You may also be able to consolidate your Institutional Loans, please contact our office for a list of lenders that provide this service. The payment terms of a consolidation loan can make repayment of your student loans much easier financially and much less confusing since you will not have to keep up with several different lenders. However, some of the benefits available in the original student loan may be lost after consolidation. Discuss your options thoroughly with your lender.
To apply for a consolidation loan, contact your Stafford lender. You must also make it a point to tell your lender about your Perkins loan.
Lew Wentz, Robey, Sells, Clark, Kaiser, and Retention Loans
You may defer your loans if you are still attending school at least half-time. For further information about your loan, please contact our office.
All loan activity is reported monthly to three national credit bureaus, listed below. To avoid having your loan reported as past-due and in default to the credit bureaus, be certain to make your payments by the first of each month. For questions or concerns about your loan payment history, please contact us at (405) 325-5876.
In addition to using OU Legal Council for litigation action, the University of Oklahoma contracts with several national collection agencies to collect our severely past due student loans. When your loan is seriously past due, it will be accelerated and placed with one of our collection agencies. A collection fee of 25 to 50 percent of your past due balance will also be added to your loan. Interest and collection fees will continue to accrue monthly.
Within two weeks of placement, you will be contacted directly by the collection agency. It is in your best interest to contact the agency as soon as possible to resolve the delinquency on your loan. The collection agencies that we contract are listed below:
(877) 322-5392
(866) 738-3179
(800) 849-9791
(877) 768-8803
