What You Should Know
Student loans handles the origination and collection of federal and Princeton-issued student loans as well the collection of charges for undergraduate and graduate students who leave the University with an outstanding balance. Educational Computer Systems, Inc. (ECSI) provides billing and account services for our Federal Perkins Loans and Princeton Institutional Loans.
For information about student loan options and the application process, see the University’s financial aid brochure and Undergraduate Admissions.
How You Receive Loan Funds
When financial aid authorizes your loan, a credit is sent automatically to your student account. The transaction will appear on your student bill as “Anticipated Student Loan Credit …-$2,500,” for example. At the same time a loan file is sent to ECSI to create the loan account. By email from ECSI, you will receive student loan disclosure statements and promissory note documents.
Once you sign the documents (and after the three-day waiting period for some loans), the loan is deemed valid and the anticipated loan credit is finalized. The loan proceeds are used to offset charges on your student account.
In some cases, you can receive the amount of your loan credit minus any unpaid charges on your student account. To request the amount, complete the Online Credit Release Form. You will receive an e-mail confirmation of your request. If you signed up for direct deposit through SCORE, the refund will be automatically deposited into your bank account. If not, you will receive a check.
Managing Your Loan Account
From the ECSI website you can check your current loan balance, view tax documents and promissory notes, change your address, and set up automatic monthly payments.
Billing & Payments
You’ll receive a monthly loan billing statement from ECSI. If you want to pay by check, send your payment and the remittance portion of the bill to Princeton University, c/o ECSI, 181 Montour Run Road, Coraopolis PA 15108-9408.
If you want to set up recurring electronic payments, you’ll find instructions on your billing statement and on the ECSI website.
To make a payment by wire transfer, email student loans for instructions.
Applying for a Loan Deferral or Cancellation
To request a loan deferral or cancellation, send a Deferment Form or a Cancellation Form to Princeton University, Student Loan Department, 701 Carnegie Center, Suite 161, Princeton, NJ 08540.
Note
Changes you make to your address and other contact information on the ECSI website will not be forwarded to Alumni Records. If you would like to update your contact information with the University, please send an email to Alumni Records.
