Student Loan Q & A
Q. What if I want my parents/spouse to speak with Kenyon in regards to my Institutional Loans?
A. For Kenyon to be able to speak with anyone other than the borrower in regards to their loans, the borrower needs to complete a Student Loan FERPA Form.
Q. Does Kenyon accept credit or debit card payments?
A. Federal Perkins & Kenyon Institutional Loan payments can be made with a credit or debit card on ECSI’s borrower website.
Kenyon College does not accept credit or debit card payments for Moral Obligation Loans.
Q. How may I update my mailing address?
A. Federal Perkins & Kenyon Institutional Loan address updates can be made on ECSI’s borrower website
Moral Obligation Loan address updates can be e-mailed to the Student Loan Coordinator
Q. My last name has changed how may I update that information?
A. Legal documentation is required for Kenyon to update this information in our loan system. Please send a copy of your signed marriage certificate to the attention of the Student Loan Coordinator at Kenyon College Accounting Office, 209 Chase Avenue in Gambier, OH 43022.
Q. Why is there a hold on my Transcripts?
A. A loan hold is placed on your account at the time you graduate or withdraw from the college. After submitting your transcript request you will need to contact the Student Loan Coordinator. She will verify that your loan is in a current status and then notify the Registrar’s Office that your transcript request can be processed.
If your loan is past due a transcript cannot be released.
Q. I have withdrawn from Kenyon. How will this affect my Institutional Loans?
A. Upon withdrawal from the College, you will be required to complete Exit Counseling. Information regarding successful repayment of your loan(s) will be included with your exit counseling.
Exit counseling for Kenyon Institutional Loans will be completed on ECSI’s website. ECSI will send an e-mail to your Kenyon e-mail account with a link to complete your exit counseling
Exit Counseling for Moral Obligation Loans will be completed by a paper exit. The Student Loan Coordinator will mail you an exit packet with the forms that will need to be completed.
Q. I have been re-admitted to Kenyon. How will this effect my Institutional Loans?
A, Once the Student Loan Coordinator receives notification that you will be returning to Kenyon College, your Kenyon Institutional Loans will automatically be placed into an in-school deferment.
Q. Since I am attending Graduate school, may I defer my Institutional Loans?
A. Please contact the Student Loan Coordinator to discuss deferment eligibility for your Kenyon Institutional or Moral Obligation Loans.
Federal Perkins Loans do have In-School Deferment provisions. Necessary deferment forms can be found on ECSI’s borrower website.
Q. I did not receive my 1098-E form/letter. How do I request another copy?
A. ECSI mails 1098-E forms by the end of January each year when the amount of interest paid in a calendar year is greater than $600. 1098-E information can also be found on ECSI’s borrower website.
Q. May I use my AmeriCorps Educational Award to pay off my Institutional Loans?
A. Kenyon Institutional Loans are not considered qualified educational loans. You may not use your AmeriCorps Educational Award as payment toward your Kenyon loans. Please visit www.americorps.gov for further information and the definition of a qualified student loan.
Federal Perkins Loans are considered qualified educational loans. You can use your AmeriCorps Educational Award as payment toward your Federal Perkins Loan. For additional information please visit www.americorps.gov.
Q. When are statements mailed for my Institutional Loans?
A. ECSI mails statements for Kenyon Institutional and Federal Perkins Loans monthly.
Moral Obligation Loan statements are mailed quarterly at the beginning of January, April, July, and October.
Q. What is the interest rate on my Institutional Loans?
A. Kenyon Institutional Loans are charged at a five percent interest rate per annum beginning when the loan is issued and continues until the loan is paid in full. Interest is determined based upon the current principal amount due on the 10th of each month. It is not compounded with current interest already accrued.
Federal Perkins Loans are charged at a five percent interest rate per annum. Interest begins 9 months after graduation or withdraw from the college.
Moral Obligation Loans are interest free throughout the life of the loan.
Q. How do I find my payoff amount?
A. Payoff for a Kenyon Institutional or Federal Perkins Loan can be found on ECSI’s borrower website.
Please contact the Student Loan Coordinator for Moral Obligation Loan payoff.
Q. Is there a penalty for paying my loans off early?
A. No. You may repay your loans in full at any time without penalty.