• Students must be enrolled in summer term(s) half-time status or greater to be eligible.
   
• Maximum loan amount is $5,000. Regular undergraduate students (non-transfers) may be eligible for an aggregate loan amount of $10,000, $5000 per each full summer session term, with a maximum of 2 full summer session terms. Transfer undergraduate students may be eligible for an aggregate loan amount of $5000.00, with a maximum of 1 full summer session term.
   
• Borrowers will not be charged interest unless they have one late payment which increases the interest to 7% for the life of the repayment of the loan.
   
• The Summer Studies Loan program has a 6 month grace period so that borrowers begin repayment on the first day of the seventh month upon graduating from an SMU undergraduate program, falling below half-time undergraduate enrollment status, or withdrawing from the university as an undergraduate.
   
• Once the loan enters repayment, the borrower will have 3 years (36 months) to pay off the loan.
   
• This loan cannot be deferred, cancelled, or consolidated.

SMU requires exit counseling for Summer Studies loan borrowers who are graduating from an SMU undergraduate program, withdrawing from the university as an undergraduate, or dropping below half-time undergraduate enrollment status. Exit counseling covers:

• Borrower's rights and responsibilities
• Loan repayment
• Consequences of default

During exit counseling, borrowers are also required to provide updated personal information, such as address, telephone number, and employment.

Schools must keep documentation that shows the borrower received the required exit counseling, either electronically, in person or by mail.

If a borrower withdraws from school without the school's knowledge, or if a borrower fails to attend a scheduled exit counseling session, the school must mail written exit counseling materials to the borrower at his or her last known address.

To complete exit counseling/exit interview for a Summer Studies loan, please visit https://borrower.ecsi.net/ .

NOTE: There will be a hold on all educational records (i.e. diploma, transcript, etc) until the exit interview is completed. Also, Summer Studies loans cannot be deferred, cancelled, or consolidated.

If you have already been awarded a SMU Undergraduate Summer Studies Loan by Financial Aid and need more information, please contact the Student Financial Operations Specialist handling Institutional Loans at:

• Phone: 214-768-3417
• Email: SFLoans@smu.edu
• Fax: 214-768-4789
• Mail:

Office of the University Bursar
Division of Enrollment Services
Attn: SFO Loan Specialist

Southern Methodist University

P.O. Box 750181

Dallas, TX 75275-0181

All Summer Studies Loan payments go to ECSI and are due by the first (1st) day of each consecutive month. For questions or concerns about billing, please contact Educational Computer Systems Inc. (ECSI) at:

• Website: www.ecsi.net
• Phone: 1-888-549-3274
• Email: cservice@ecsi.net
• Mail:

ECSI/73-Southern Methodist University

181 Montour Run Road

Coraopolis, PA 15108

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