Simple interest of 9% per year on the total loan or unpaid balance of the loan commences on the first day of the month following the date of graduation, withdrawal, or leave of absence from Rensselaer. Repayment is made in quarterly installments, beginning with the date given on the Exit Interview Agreement in the sum of at least fifty dollars ($50.00). The maximum repayment period is therefore determined by the total amount of your loan (for example, total loan of $200.00 -- four quarterly installments of $50.00, plus interest on loan added to fourth installment -- maximum repayment period is one year). In no event will the repayment period exceed ten years.

A full or partial repayment of the loan at any time, or a payment in excess of the amount due at a given time in accordance with the repayment schedule, is permissible. Repayment ahead of schedule is urged, when possible, both to save interest payments for the borrower and to make the money available to other needy students.

A Colvin Student Loan borrower serving in the Armed Forces of the United States, the Peace Corps, or VISTA, or attending another institution of higher education as a half-time student, may have installments on the principal amount of the loan deferred, but interest will accrue and be payable. Deferment of principal payments will be granted up to a maximum of three years for military, Peace Corps, or VISTA service.

A Colvin Student Loan borrower who returns to Rensselaer as a half-time student may have installments deferred and interest will not accrue on the loan while he is in attendance.

Requests for deferment must be made to University Accounting Service, LLC at the time payment is due, and should be accompanied by a letter of certification of your service or attendance at an institution of higher education from the appropriate official.

Billing statements will be sent to you by University Accounting Service, LLC for each installment. It is your responsibility to notify University Accounting Service of any change in your address.

Billing for this program will be handled by ECSI, Inc. Forward all inquiries, requests for forms, payments, notification of address changes, and correspondence to:

Rensselaer Polytechnic Institute
c/o ECSI, Inc.
PO Box 1278
Wexford, PA 15090

888-549-3274
https://www.heartland.ecsi.net
Servicer License # 1489841

Bankruptcy

Colvin Student Loans are generally not dischargeable in a bankruptcy during the first seven (7) years in a repayment status.

Holds

Diplomas will be held in the event the account is in default.