The Schell Honor Loan is not a federal student loan. Xavier is the lender.
Heartland ECSI (Educational Computer Systems, Inc.) has the Promissory Note and Entrance Interview on their web site at http://www.ecsi.net. Xavier's Office of Student Financial Services sends each student an award letter listing the type of aid they have been awarded. If the Schell Honor loan is listed, the Promissory Note and Entrance Interview need to be completed.
The interest rate for this loan is zero percent (0%).
The first payment will be due two (2) months after leaving Xavier. The minimum monthly payment is $40.00. It could be more if the amount borrowed is sufficient to require larger payments. The amount borrowed should be repaid within ten (10) years after the date on which repayment begins unless that period is extended by deferments. You will be billed on the 15th of each month with your payments due on the 1st of the following month.
The Schell Honor loan is not reported to the credit bureaus.
The payments can be deferred while furthering your education. Student Deferment Forms can be obtained by contacting Heartland ECSI at 1-888-549-3274 or by going on-line to http://www.ecsi.net. If borrowers are experiencing financial difficulties, payments can be deferred. The Financial Arrangement Form can be sent to you by contacting Heartland ECSI at 1-888-549-3274 or by going on-line to http://www.ecsi.net.
The Schell Honor loan is not a "federal student loan." Therefore, this loan cannot be consolidated with federal loans.
The borrower must, without exception, report any of the following to Xavier University, Loan Collection Office, 3800 Victory Parkway, Cincinnati, OH 45207-3361, or call (513) 745-4833.