Illinois Wesleyan Loan
TheThe äçÐÄvlogÃâ·ÑBÕ¾ (äçÐÄvlogÃâ·ÑBÕ¾) Loan is an institutional loan funded by äçÐÄvlogÃâ·ÑBÕ¾ to help students with demonstrated financial need cover educational expenses.
Eligibility is determined through information provided on the Free Application for
Federal Student Aid (FAFSA). While this loan is awarded by äçÐÄvlogÃâ·ÑBÕ¾, it is considered a
private educational loan and requires additional borrower disclosures and documentation.
Quick Facts
- Lender - äçÐÄvlogÃâ·ÑBÕ¾
- Current Interest Rate - 8%
- Financial Need Required - Yes
- Enrollment Required - At Least Half-Time
- FAFSA Required - Yes
- Loan Servicer - Heartland ESCI
Eligibility Requirements
To receive an äçÐÄvlogÃâ·ÑBÕ¾ Loan, you must:
- Demonstrate financial need based on FAFSA information.
- Be enrolled at least half-time.
- Maintain Satisfactory Academic Progress (SAP).
- Meet all university financial aid eligibility requirements.
How to Apply
Students are automatically considered for the äçÐÄvlogÃâ·ÑBÕ¾ Loan when they submit the FAFSA and are determined to have financial need. If an äçÐÄvlogÃâ·ÑBÕ¾ Loan is included in your financial aid package, additional documentation will be required before funds can be disbursed.
Important Information
Loan documents are completed through Heartland ECSI, the loan servicer for äçÐÄvlogÃâ·ÑBÕ¾ Loans. Beginning in May, students who have been awarded an äçÐÄvlogÃâ·ÑBÕ¾ Loan will receive an email from webmaster@ecsi.net with instructions for completing the required loan documents. Please wait until you receive this notification before attempting to complete the loan requirements.
Next Steps After Receiving a Loan Offer
If an äçÐÄvlogÃâ·ÑBÕ¾ Loan is included in your financial aid package, complete the following steps each academic year.
- Accept Your äçÐÄvlogÃâ·ÑBÕ¾ Loan through your MyäçÐÄvlogÃâ·ÑBÕ¾ account or by returning
a signed copy of your financial aid offer to the Financial Aid Office.
- Required each year.
- Complete the Master Promissory Note
- The Master Promissory Note (MPN) is the legal agreement outlining your promise to repay the loan according to its terms and conditions.
- Review the Private Loan Approval Disclosure
- This disclosure provides important information about the loan amount, interest rate, fees, and repayment terms.
- Complete the Private Loan Self-Certification Form
- This federally required form confirms your enrollment status and educational costs.
- Review the Final Private Loan Disclosure
- This disclosure provides a final review of your loan information and includes your right to cancel the loan within the applicable timeframe.
All required loan documents must be completed before loan funds can be disbursed to your student account.
Loan Servicing
äçÐÄvlogÃâ·ÑBÕ¾ partners with Heartland ECSI to service both äçÐÄvlogÃâ·ÑBÕ¾ Loans and Federal Nursing Loans.
Heartland ECSI
Website:
Phone: (888) 549-3274
Heartland ECSI will assist borrowers with loan documentation, billing, repayment,
and account servicing.
