ÐÓ°ÉÂÛ̳ College Global Loans
Student Financial Services grants ÐÓ°ÉÂÛ̳ College Global Loans to international students as part of the financial aid process. Unlike grant funds, these loans must be repaid usually within the first ten years after leaving the College. The maximum amount of a MHGL that a student can receive in any year is listed in their aid package.
You may be offered a ÐÓ°ÉÂÛ̳ College Global Loan as part of your need-based financial aid package. The packaged loan amount increases approximately $1,000 each year. Total estimated student loan debt over four years ranges from $20,000 to approximately $28,000.
Requirements for disbursement of ÐÓ°ÉÂÛ̳ College Global Loans
- Review the sample application disclosure notice.
- Sign the .
- Have, or be able to obtain, a Social Security number issued by the United States Social Security Administration.
Global loans are administered by ÐÓ°ÉÂÛ̳ College through ECSI.
The applicable interest rate for the Global Loan is 8.0% fixed, which accrues when repayment begins. There is a six-month grace period between graduation and repayment. During any period of reenrollment, a deferment is available. Other deferment options can be discussed with ECSI. Standard repayment of principal and interest shall be made over a period of ten years.
You will need to sign a promissory note for each academic year a loan is included in your financial aid package. You will be contacted via email during the summer when the promissory note is ready for completion. If you will be attending a study abroad program, you should sign all loan documents before leaving the United States.
Who to contact with questions
General loan questions can be submitted via email to Student Financial Services. ÐÓ°ÉÂÛ̳ College Loan borrowers who have routine billing questions should contact ECSI at 888-549-3274 or 412-788-3900. You can also download forms, make payments and check an account online through ECSI.