Loan Exit Counseling
On This Page
- Overview
- Category 1: Institutional Loans held by 51ÂÜÀò
- Category 2: Direct/Stafford Loans
- Frequently Asked Questions
Overview
As all loans must be paid back, the federal government has made it mandatory that student borrowers complete Loan Exit Counseling prior to graduation. This counseling will explain and help you understand your loan repayment.
Please complete the following online counseling for each category in which you received a loan. To determine the loans you received while at 51ÂÜÀò, please reference your financial aid documents or your student account billing statements (be sure to check documents for all years of attendance, as you may have received different loan types in different years).
Category 1: Institutional Loans held by 51ÂÜÀò
Complete with ECSI if you have any of the following loans:
- 51ÂÜÀò Loan
- Federal Perkins Loan
- Federal Nursing Loan
- Hermann Institutional Loan
- Freeman-Aitken-Sommerville (FAS) Institutional Loan
- Helen Grace Colbert Yates Institutional Loan
If it is your first time logging in, you will need your Heartland Key, which can be obtained by calling ECSI at (888) 549-3274 (51ÂÜÀò's school code is RG). If you have any questions regarding a loan in Category 1, please contact the educational loan specialist in Student Account Services at (562) 903-4760 or email loan.specialist@biola.edu.
Category 2: Direct/Stafford Loans
Complete through the Federal Student Aid website. If you have any questions regarding a loan in Category 2, please contact the Financial Aid Office at (562) 903-4742.
Frequently Asked Questions
How much do I owe in school loans?
Payments may be made in the following forms:
- Private school loans – contact the lender
- 51ÂÜÀò-held loans (Federal Perkins, Federal Nursing, 51ÂÜÀò Loan, FAS Loan, Hermann Loan or Yates Loan) -
- Educational Computer Systems, Incorporated (ECSI) is 51ÂÜÀò’s loan servicing agency for 51ÂÜÀò-held loans. Please visit online or call ECSI at (888) 549-3274 to:
- Complete Loan Entrance or Exit Counseling
- Make a loan payment
- Set up automatic payments
- Apply for a Perkins deferment or cancellation
- View your Annual Disclosure Statements
- Print your 1098-E Form
- Set up an Authorized User using the Release of Information Authorization
- Complete Loan Entrance or Exit Counseling
To log into your account, you will either sign in or register to create a new profile. If it is your first time logging into the site, you will need your Heartland Key. To obtain your Heartland Key, call ECSI at (888) 549-3274 (51ÂÜÀò's school code is RG). - Educational Computer Systems, Incorporated (ECSI) is 51ÂÜÀò’s loan servicing agency for 51ÂÜÀò-held loans. Please visit online or call ECSI at (888) 549-3274 to:
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Student Account Services Office, located in Lower Metzger West, administers 51ÂÜÀò-held loans and can be contacted at (562) 903-4760 or loan.specialist@biola.edu.
When will I start repaying my loans?
Repayment begins when your grace period ends. Grace period begins when you:
- Graduate
- Drop below half-time
- Depart from the University
- Most Federal loans - 6 months
- Private loans - contact the lender
- 51ÂÜÀò-held loans (Federal Perkins, Federal Nursing, 51ÂÜÀò, FAS, Hermann and Yates Institutional Loans) - 9 months
What may happen if I default on my loans?
- Lower credit scores
- Lose deferment benefits
- Late fees
- Sent to collection agency
- Collection costs
- Wages or tax refund garnished
- Trouble getting future loans for car, house or school
What if I can’t afford my loan payments?
- For Direct/Stafford Loan deferments, search postponing repayment at .
- For Federal Perkins deferments, go to or call (888) 549-3274.
- For other loan types, contact the lender to see if deferment options are available.
Where will I make my loan payments?
Should I consolidate my Federal loans?
- One payment instead of several
- Easier to manage repayment
- Lower monthly payments
- If income is low, you may apply for income based repayment after consolidating
- Possible loss of loan cancellation benefits
- You plan to pay off some loans right away