For information about repayment of federal loans, we suggest you visit the Federal Student Loan Servicing website. There you can click on the “Your Account” link to make online payments, view account balances and payment history, change billing options, and more.
When you leave Ball State, you will need to take an online exit counseling session to learn more about your responsibilities in repaying federal loans.
For more information on federal loan repayment and how to manage your student loans, watch these helpful videos from Federal Student Aid.
If you have loans from a bank or other non-governmental source, you need to be aware of that institution’s repayment requirements.
Student and parent borrowers can combine multiple federal student loans into one consolidation loan.
Carefully evaluate your consolidation options before you apply. Determine whether you will lose any benefits if you consolidate and compare the cost of repaying your unconsolidated loans with that of repaying a consolidation loan.
Learn more about federal loan consolidation.
The repayment period begins nine months after you cease to be enrolled at least half-time. The minimum monthly payment is $40. The maximum repayment period is 10 years but may be extended for up to 10 more years if Ball State determines that you are or will be a “low-income individual” as defined in the federal regulations published by the U.S. Department of Education.
You can view and pay your Perkins Loans online through Educational Computer Systems, Inc. (ECSI). ECSI administers the billing and servicing of these loans. ECSI is a billing service for Ball State, not a collection agency. With this partnership, Ball State can allow you full access to view your loan accounts, make online payments, sign up for e-billing, use electronic draft payments, obtain deferment forms online, and make online changes to your address.
The U.S. Department of Education provides an online guide to help you understand your Federal Direct Stafford Loan and guide you through the repayment process.
View the guide.
The U.S. Department of Education provides information on eligibility, repayments, and more for the Federal Direct Parent PLUS and Graduate PLUS Loans.
View the guide.