Educational Computer Systems, Inc. (ECSI) is a Pittsburgh-based one-stop-shop for student loan software, loan processing, and IRS 1098 services. The company has challenged industry competitors with its highly effective computing and software systems that specifically cater to “campus-based programs.”
Where other companies like ECSI have gone outside their firms for required labor, ECSI continues to work from the inside out, with highly motivated staff capable of forging long-term relationships with clients.
Student loan management is an important service for keeping tabs on educational debt, and ensuring positive future credit outcomes. Since 1972, ESCI has provided consistent management alternatives for responsible repayment and processing. College students who wade into the world of personal lending use private student loans to offset obligations that remain after other financial aid is applied. ECSI uses software solutions to help campuses and individuals manage student debt obligations.
The ECSI Sal system allows administrators to employ a full range of borrower management capabilities, from account access options, to multiple account views all at one time. With student borrowing levels at an all-time high, high-volume applications are required at campuses that contract with company’s like ECSI for fulfillment.
ECSI’s SAL program gives campuses the ability to manage their own student loan accounts, but what about payment management? ECSI’s Tuition Payment Plan handles the processing of monetary transactions associated with student loans and tuition, including monthly billing operations.
Student-borrowers may access their accounts at any time through ECSI. Auxiliary processes include monthly reports, TPP statements and budgets, which are available online and in hard copy versions.
Scalable Online Services
In addition to the company’s student loan software product, colleges and universities rely on ECSI for long-standing company support services that go beyond the capabilities of most campus infrastructures, including: electronic payments and auxiliary scheduling, e-signatures for master promissory notes, online entrance and exit interviews, a credit bureau reporting mechanism, and IRS 1098 processing, among others.
Each year at tax-time, Uncle Sam demands reams of paperwork from taxpayers, as well as educational institutions. According to the Taxpayer Relief Act of 1997, Americans may claim the interest associated with educational expenses for the Hope and Lifetime Learning credit and/or the Student Loan Interest Deduction, on their federal tax returns. This means colleges and universities must supply statements for each student’s annual tuition expenses. ESCI offers a 1098 T processing service for educational institutions that are required to accommodate Hope and Lifetime Learning statements. Financial aid departments on many campuses would otherwise be unprepared to manage this type of large-scale tax accounting compliance requirement.