Student Loan Exit Interviews

All students who are planning to graduate in May 2012 and have borrowed Perkins, Nursing, Law School, Sharp, Bank of America, Graduate PLUS, or Federal Direct loans while attending Boston College must complete an Exit Interview prior to leaving the University.

The online Exit Interview for Spring Graduates will be active in Mid-March at www.ecsi.net.

Graduates will receive an email with logon instructions in March. Required Exit Interview Counseling sessions will take place March 26-29.

Failure to complete an Exit Interview will result in a hold on your transcript and diploma.

For December graduates the loan staff is offering individual counseling sessions to discuss repayment of student loans, loan forgiveness options, and consolidation. For an appointment, call the Office of Student Services at 800-294-0294 and ask to speak to a member of the loan staff or email borrower@bc.edu.

Federal Loan Consolidation

President Obama has announced a new Special Direct Consolidation Loan opportunity. Visit the Consolidation webpage for more information.

Massachusetts No-Interest Loan Exit Counseling

Borrowers of Massachusetts No-Interest Loans are required to complete an Exit Interview prior to Commencement. This may now be completed online. You will receive a letter from the Massachusetts Department of Higher Education, Office of Student Financial Assistance, outlining the steps for completion of the online Exit Interview. You will be asked to login to the web site of Educational Computer Systems, Inc. (ECSI), Mass. DoE's loan servicing company, to complete the exit interview. You will be required to provide family information and personal references. Please be sure to have this information ready when you begin the online Exit Interview.

If you have any questions about your Massachusetts No-Interest Loan debt or the Exit Interview process, please contact the Office of Student Services at 800-294-0294 and ask for a member of the Loan staff.

Perkins Loan Provisions Have Changed

The Federal Perkins Promissory Note has been amended. Note the new changes and Cancellation benefits.

Private Education Loan Self-Certification Form Information

Effective February 14, 2010, lenders of private education loans are required to collect a completed and signed Self-Certification Form prior to disbursing the loan proceeds. This applies to any private education loans that are not at least partially disbursed prior to the effective date. Private education loans include all Alternative Loans, as well as certain loans issued by Boston College directly. Individual lenders are implementing their own procedures to comply with this new regulation, so you should contact your lender directly if you have specific questions about the process for submitting this form.

Regulation Z (Truth in Lending) Information for Students

On July 30, 2009, the Federal Reserve approved final amendments to Regulation Z (Truth in Lending) that revise the disclosure requirements for private education loans. The amendments implement provisions of the Higher Education Opportunity Act (HEOA) enacted in August 2008. Under the amendments, creditors that extend private education loans must provide disclosures about loan terms and features on or with the loan application, and must also disclose information about Federal student loan programs that may offer less-costly alternatives. Additional disclosures must be provided when the loan is approved and when the loan is consummated. The rules became effective on September 14, 2009, and lenders were required to be in compliance on February 14, 2010.

Perkins/Nursing Loan Signing

Students who have been awarded the Perkins, Nursing, or Law loan for the first time or the Balfour, Peter Jay Sharp, or Bank of America Loan this year must complete Entrance Counseling and sign a promissory note. Click here for more information. Students will receive an email from ECSI when it is time to sign their documents. Please be sure to allow ECSI into your email's trusted sites.

As stated above, ECSI, an industry leader for loan servicing, is the servicing agent for Boston College loans. This includes Perkins, Nursing, Law, Sharp, and Bank of America loans.

New features available through ECSI:

• Sign promissory notes electronically
• Fill out online Exit Interview
  
• View and update your account through web access
• Make an e-payment
• Sign up for electronic draft (ACH) payments

You may now access your loan account through one of the following links:

Enrolled Students and Boston College Alumni: BC Agora Portal

Former Students: Educational Computer Systems, Inc. (ECSI)

Loan Signing
Students who have been awarded the Perkins, Nursing, or Law loan for the first time or the Balfour, Peter Jay Sharp, or the Bank of America Loan this year must complete entrance counseling and sign a promissory note. Visit http://www.ecsi.net/promx9/ for more information. Students will receive an email from webmaster@ecsi.net when it is time to sign their documents.