University of Oregon

Loan Repayment


When a student receives a student loan, a promissory note is signed obligating the student to repay the loan according to the terms of the note. The promissory note is a legally binding document.

Perkins Loans, although a Federal program, are borrowed from and repaid directly to the University of Oregon. It is important not to confuse Perkins Loans with other student loan types, such as the Federal Direct Student Loans, Guaranteed Student Loans, private educational loans through banks, etc.

The borrower is obligated to repay the full amount of the loan even if the borrower has not completed the program, is unable to obtain employment upon completion, or is otherwise dissatisfied with or does not receive the educational or other services that the borrower purchased from the institution.

Perkins Loans cannot be "bought" by another lender as some other student loans may be, though they can be included in a consolidation loan or refinanced.Perkins Loans borrowed from different schools are never "combined" but are repaid to each school separately, though they can be pro-rated.

While a loan is in repayment status
the interest paid on the loan may be income tax deductible as a qualified
student loan. And, if the student loan is canceled, the student may not have to
include any amount in income. A
qualified student loan is a loan taken out solely to pay qualified higher
education expenses. See the I.R.S. Publication 970, "Tax Benefits for Education" for more information.

Exit Counseling

When a student leaves the University of
Oregon, or drops below half time enrollment, the loan is placed into repayment
status. Repayment information will be
sent fromEducational Computer Systems,
Incorporated (ECSI)
with instructions regarding the completion of exit counseling on-line.

ECSI is a billing service provider for the
university. The exit counseling information includes the Schedule of
Repayment/Truth in Lending Disclosure. The
exit counseling must be completed even if the student will be returning to the
University of Oregon at least half time, transferring to another school, or
approved for deferment under other terms of the promissory note. A
transcript HOLD will be placed on the student record until the exit counseling
is completed.

Grace Period

The initial grace period is a 9 month time period after graduation or a student's last term of continous eligible enrollment during which a student is not required to begin repaying on a Perkins Loan. No interest accrues during this initial grace period.

The initial grace period begins the day a student leaves the University of Oregon or enrollment hours drop below half-time, whichever occurs first.

Billing Statements

Billing statements are sent as a reminder notice at least two (2) weeks prior to each payment due date. If statements do not reach borrowers due to Post Office problems, failure of borrowers to inform our office of an address change, or other unforeseen reasons, a late payment is not excused. It is legally the responsibility of the borrower to ensure payments are made on time as scheduled.

Late payments will result in additional interest and past due charges. Non-payment will eventually result in referral of the account to outside collections agencies, which will add at least 30% to the total needed to pay off the loan.

Protect your credit rating, our loans are reported to the credit bureau. If you are unable to make a payment as scheduled contact us at or 541-346-3171.

Payment Options

  • Electronic payments from a checking or savings account made online by the student using a bank account in the United States by logging into yourECSIaccount. UO School Code 7v, account number is your UO ID number or social security number.
  • Mail your payment with the statement and/or indicate your account number
    on your check to:
    University of Oregon
    c/o Educational Computer Systems, Inc.
    181 Montour Run Road
    Coraopolis PA 15108-9408

Payment and Correspondence Address

All payments andcorrespondence should be sent to:

University of Oregon
c/o Educational Computer Systems, Inc.
181 Montour Run Road
Coraopolis PA 15108-9408

Toll free phone contact for ECSI: 888-549-3274

Toll free fax number for ECSI: 866-291-5384

Pay off a loan ahead of schedule

There is no pre-payment penalty for paying all or part of a Perkins Loan ahead of schedule. A borrower may also make early payments for future installments, up to one year in advance, with proper notification to ECSI. Without such notification, the additional amounts paid are applied as "extra" payments for the reduction of the principal and a regular installment payment will be due the next payment due date according to the usual payment schedule.

Loan Consolidation

is possible to consolidate Perkins Loans into a Direct Consolidation Loan if
borrowers include at least one Direct Loan or Federal Family Education Loan
(FFEL) in their request. Perkins Loans cannot be included in a Direct
Consolidation Loan by themselves. Furthermore, all Perkins Loans consolidated
into the Direct Loan Program will be included in the unsubsidized portion of
the Direct Consolidation Loan.

Borrowers should
carefully weigh the advantages and disadvantages of including a Perkins Loan in
a consolidation loan as benefits may vary depending on the lender. While the borrowers gain the benefits of the Direct
Consolidation Loan Program, they also lose the benefits associated with the
Perkins Loan Program.

We recommend that
you consider the following points prior to making a .decision:

  • Perkins
    Loans are eligible for additional benefits including forgiveness and deferment as well as cancellation benefits for performing certain kinds of public service or working in particular occupations. These benefits are lost when a
    Perkins Loan is included in a Direct Consolidation Loan
  • Perkins
    Loans have a grace period of 6-9 months. When a Perkins loan is
    consolidated, any remaining grace period is lost.
  • Interest
    does not accrue when a Perkins Loan is placed in deferment. Since a
    Perkins Loan is included in the unsubsidized portion of a Direct
    Consolidation Loan, borrowers are responsible for interest that accrues
    throughout the deferment period.
  • Perkins
    Loans generally have a lower interest rate but have a less flexible
    repayment period of 10 years.

Lower payments and extended repayment terms can increase the overall finance
charges incurred over the life of the loan.

Find out more about consolidating your Federal loans at: 800-557-7392 or:

Existing Consolidation Process on Direct Consolidation Loans Website is phased out

Applications submitted and in process prior to May 18, 2014 will continue to be processed.

consolidation applicant will use the existing loan consolidation application
process on the Direct Consolidation Loans Web site if the applicant

  • Has one or more defaulted federal education loans assigned to the
  • Needs to take action on an application the applicant submitted via
    the Direct Consolidation Loans Web site prior to January 2, 2014; or
  • Needs to take action on an application the applicant submitted via
    the Direct Consolidation Loans Web site on or after January 2, 2014.

Direct Consolidation Loans Website is available

Note:If preferred, an applicant will also be
able to download and print a paper application from the Direct Consolidation
Loans Web site for submission by U.S. mail.

Effective May 18, 2014 Consolidation Process on Website

consolidation applicant will use the new Direct Consolidation Loan application
process on the Website

  • Has received a letter from the Dept of Education to initiate a new application on this website
  • Needs to take action on an application the applicant submitted via on or after January 2, 2014.
  • New applications

The Website is available

Business Affairs
Eugene, OR 97403

P: 541-346-3165F: 541-346-5820P: 541-346-1111

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