The University of Toledo

Office of The Treasurer : Loans and Special Accounts

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Important Dates

2009-2010 Academic Calendar (pdf)

University Calendars

December 31, 2009
-Spring 2010 fees are due

August 14th, 2009
-Fall 2009 fees were due

May 8th, 2009
- Summer 2009 fees  were due

Loans and Special Accounts

The Loans and Special Accounts area of the Treasurer’s Office is responsible for collecting current and prior term student account receivables which include, but are not limited to, Installment Payment Plans, insufficient funds “NSF” items, department collections, Federal Perkins and Department of Health and Human Services Loans, and University loan programs.

  • Delinquent Student Accounts
  • Insufficient Funds - "NSF"
  • Federal Perkins Loans
  • Consolidations
  • Health & Human Services Loans -Please contact our office directly at 419.530.5789 regarding deferments, compliance, and repayment questions 

Delinquent Student Accounts

Student account balances are due on the advertised payment due date(s) for each term.  This includes student accounts placed on the Installment Payment Plan (I.P.P.).  Registrations that occur after the payment due date may create an additional balance and are expected to be paid daily. Failure to pay your student account balance by the University’s advertised due dates may result in the University seeking one or more of the following remedies without notice or demand: 

  • Withholding of an official transcript until all financial obligations have been met with the University.
  • Preventing future registrations.
  • Assessing late fees on your student account.
  • Restricting eligibility on future University payment plans.
  • Filing an unfavorable report to the credit bureau agencies.
  • Certifying your student account to the Ohio Attorney General’s Office for collection pursuant to Ohio laws. The Ohio Attorney General’s Office may proceed with litigation to collect this debt.  They may attach your wages, bank accounts and may place a lien on your real estate. In addition, they may attach your Ohio State tax return. The student is responsible for additional costs for collection, which may include attorney fees and legal expenses.

Insufficient Funds-“NSF”

  • Check writing privileges may be suspended for up to one year on student accounts with “NSF” activity.  This will also restrict electronic check paying privileges online.
  • The University assesses a $25 fee on your student account for “NSF” activity
  • The University may file criminal charges against the offender
  • Unpaid items will be subject to collection by The Ohio Attorney General’s Office

 The repayment of an “NSF” item needs to be made by certified funds-cash, money order or a cashier’s check from a financial institution. 

To prevent any collection activity from occurring and to discuss your available options, please contact a Student Loan Specialist in the Loans and Special Accounts Office by calling (419) 530-5789 or stop into our office located in 1850 Rocket Hall between the hours of 8:15 am and 7:00 pm Monday through Thursday and 8:15 am until 6:00 pm on Fridays. 

Federal Perkins Loans

Exit Interview Process

Exit interviews are required for all borrowers who have a Federal Perkins Loan when one of the following occurs:

  • Graduation
  • Transfer to another school
  • Drop below six (6) credit hours

The exiting process begins with a letter from the Loans and Special Accounts area of the Treasurer’s Office. This letter will contain important information on your options for exiting. You will be given three (3) options: in-office exit, web exit or an exit by regular mail. The web exit is made available by contacting our billing service at www.ecsi.net. You will need the pin number and our school code from your exit letter and you will need to select the borrower tab and click on exit interview to complete your exit. If you have any questions, or you need to set up an appointment for an in-office exit, or request your exit be mailed, please call (419) 530-5789.

A hold will be placed on your official transcript and future registrations until your exit interview has been completed.

Repayment

Repayment on Federal Perkins Loans will begin nine months after you have graduated or dropped below six credit hours. You will receive notifications from our billing service, E.C.S.I., Educational Computer Systems, Inc. during your grace period, notifying you when your payments of principal and interest will begin.

It is your responsibility to maintain a current address with E.C.S.I. by calling 888-549-3274. Payments can be mailed to either E.C.S.I. at 181 Montour Run Road, Coraopolis, PA 15108-9408 or to the University of Toledo at 2801 W. Bancroft, MS 331-Loans and Special Accounts, Toledo, OH 43606.  A delay in your payment will result in late fees being assessed.

If at anytime you think you are eligible for a deferment, cancellation or postponement due to unemployment, financial hardship, working in a field that qualifies for a cancellation or you are attending another school a minimum of six credit hours, please check the appropriate box on the back of your monthly statement and return promptly, or call a Student Loan Specialist at (419) 530-5789.

Failure to pay your loan on time may result in the following:

  • Withholding your official transcript
  • Assessing late fees
  • Negative credit bureau reporting
  • Certifying your loan to the Ohio Attorney General’s Office. The Attorney General’s Office may proceed with litigation to collect this loan. They may attach your wages, bank accounts and may place a lien on your real estate. In addition, they may attach your Ohio State tax return. The student will be responsible for the additional costs for collection, which may include attorney fees and legal expenses.
  • Assigning your loan to the Department of Education. This may lead to the garnishment of your Federal Tax Returns.
     

Cancellation

To qualify for cancellation benefits, you must be employed full-time in an eligible field of employment approved by the Department of Education. The University reserves the right to deny cancellation requests that are submitted late and do not have the necessary supporting documentation to determine eligibility. At the end of each postponement period, it is the student’s responsibility to request, complete, and return the necessary forms to the University or billing service, E.C.S.I.  Failure to return the necessary forms each year, will result in your loan going into repayment.

CANCELLATION BENEFIT ELIGIBILITY

  • Teacher in a designated low-income area in the “Federal Register”
  • Teacher of Special Education
  • Teacher of Mathematics, Science, Foreign Languages and Bilingual Education
  • Staff member performing qualified service under Head Start Act
  • Nurse/Medical Technician (must submit a copy of license)
  • Law Enforcement/Corrections Officer
  • Service Agency providing services to high-risk children/families from low-income communities.
  • Peace Corps/Action Program Volunteer

Deferments

  • Military (must be active duty)
  • Forbearance
  • Economic Hardship
  • Student
  •  Heroes
     

Please call 419.530.5789 to discuss eligibility.  Forms can be obtained from ECSI.net or by contacting our office.

  

Consolidations

Consolidation of your Federal loans may help reduce your monthly expenses and provide a more efficient way to manage your accounts. For more information on consolidating your loans, you can visit the following website: http://www.loanconsolidation.ed.gov

Page updated: November 02, 2009
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