HomeStudentsRay and Eleanor Cross TECHAID Loan Info

Ray and Eleanor Cross TECHAID student loans

Criteria: financial need; enrolled at least half time.
Amount: variable.
Interest: 5 percent; does not accumulate until repayment period begins. Six month grace period; up to 5 years to repay.

Eligibility and Awarding

All Ray and Eleanor Cross TECHAID loan eligibility and awarding is done through the Financial Aid Office. Once Michigan Tech receives your FAFSA information you will be notified of your Ray and Eleanor Cross TECHAID eligibility by the Financial Aid Office.

Michigan Technological University's Loan Administrator

**Please note: as of July 1, 2013, Michigan Tech will be converting from University Accounting Service (UAS) to Educational Computer Systems, Inc. (ECSI) as our Ray and Eleanor Cross TECHAID Loan administrator.**

Educational Computer Systems, Inc.
181 Montour Run Road
Coraopolis, PA 15108-9408
888-549-3274
412-788-3900
cservice@ecsi.net
https://borrower.ecsi.net

Master Promissory Note

If awarded the Ray and Eleanor Cross TECHAID loan you will receive an email from Educational Computer Systems, Inc. (ECSI), Michigan Tech's loan administrator, with instructions on how to sign your electronic promissory note. In order for your loan to be applied to your Michigan Tech student account, you will need to complete the electronic promissory note through the ECSI website.

The Ray and Eleanor Cross TECHAID loan program requires that you sign a new promissory each year that you are awarded this loan.

Exit Interview

All students who have the Ray and Eleanor Cross TECHAID loan and either graduate from Michigan Tech or drop below half time enrollment are required to complete an exit interview through our loan servicer, ECSI. .

Future correspondence concerning your Ray and Eleanor Cross TECHAID loan, including emails and billing notifications, will come from ECSI and not Michigan Tech. It is important that you read all emails and mailings from ECSI to keep your loan current. It is also your responsibility to keep your mailing address and email address updated with ECSI so that you continue to receive updates on your loan status. You can either change your address with ECSI on-line or contact them toll free at 888-549-3274.

Within a couple weeks of your graduation or drop in enrollment, you will receive an email fromECSI with the information you will need to complete your exit interview on-line. Please complete your exit interview as soon as possible as there will be a hold on your Michigan Tech account preventing you from receiving grades, transcripts or your diploma until it has been completed. You may also be required to complete an exit interview for loans other than the Ray and Eleanor Cross TECHAID that you have taken out during your time at Michigan Tech, so please be sure you complete all exit interviews that are required of you.

Grace Period

The Ray and Eleanor Cross TECHAID loans have an interest-free 6 month grace period that begins at the time you graduate or cease to be enrolled at least half time.

Repayment

After your grace period has ended, you will start to receive monthly billing notifications from ECSI. To avoid late charges please make your payments by the indicated due date and direct your payments to ECSI and not Michigan Tech. You will continue to receive monthly billing statements from ECSI until your loan is paid in full. You can sign up for electronic bill notification and on-line payments through the ECSI website.

Deferment Eligibility

If you re-enroll in a post-secondary educational institution as at least a half-time student, you may be eligible for an in-school deferment of payment on your Ray and Eleanor Cross TECHAID loan. A deferment is a period of time during which interest on your Ray and Eleanor Cross TECHAID loan does accrue and payments do not have to be made.  To obtain the necessary forms to apply for an in-school deferment, please visit the ECSI website. You can also call ECSi at 888-549-3274 to request this information.

After your deferment has ended, your loan will go back into repayment and you will receive monthly billing notifications from ECSI.

Please note that if you are applying for an in-school deferment, you will need to do so for every semester that you are enrolled or your loan will go into repayment status.

Loan Default

It is important you make your payments by the due date listed on your billing statement. If you default on your loan payments, your loan repayment will be accelerated and may be referred to an outside collection agency. At that time the loan will be due in full and you will be responsible for the entire unpaid balance of the loan, including principal, interest, and late charges, and the additional collection costs. You will not be eligible for any further federal student financial assistance and the default will be disclosed to credit bureau organizations and the NSLDS.

Address Changes

It is also your responsibility to keep your contact information including your mailing address, telephone number and email address updated with ECSI so that you continue to receive updates on your loan status. You can either change your address with ECSI or contact them toll free at 888-549-3274.

Frequently Asked Questions

If you have questions regarding financial aid awarding, including the Ray and Eleanor Cross TECHAID loan, please contact the Financial Aid Office.

Currently enrolled students, who have been awarded the Ray and Eleanor Cross TECHAID loan, should contact the Accounts Receivable Office at 906-487-2243 or student-billing@mtu.edu with questions.

If you are no longer enrolled at Michigan Tech and have any questions on the information stated above or on something that is not covered here, please visit the ECSI website. Along with a list of frequently asked questions you will find detailed information on changing your address, exit interviews, and on-line payments. You can also call ECSI toll free number at 888-549-3274 to speak to a Customer Service Representative.


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