Secret Hack For Heartland ECSI Student Loans | Student Loan Planner
Maybe you have some loans from Heartland
ECSI. This loan servicer is one of the trickiest in the entire arsenal of the
many, many loan servicers the federal government has hired to manage student
loans for them. Because Heartland ECSI for whatever reason has a ton of
contracts out there to manage Perkins loans for individual schools, and it also
manages most of the Health Resources Services Administration (HRSA) of student
loan programs. Some of these include the HPSL loan, this is Health Professions
student loans, they also will sometimes manage loans for disadvantaged students,
and I’ve seen them do other programs too, like nursing loans or primary care loans.
These kind of student loans are a giveaway if it’s at a 5% interest rate.
That’s typically the interest rate that these loans are issued at. And they’re
sold to students based on the fact that it’s lower interest, and a lot of them
don’t accrue interest while you’re in school, so it is a pretty attractive
interest rate in loan terms for people who are actually in school and taking
the debt out if their thought is that they’re going to pay the debt back. The
problem with these kind of loans, is realistically I see a lot of people who
take them out who pay them back as if they’re a private loan. And if you’re
going for loan forgiveness, such as Public Service Loan Forgiveness, or even
IDR loan forgiveness, then that’s going to mean that that debt, say you took out
fifty thousand of loans from Heartland ECSI, that fifty thousand could have
been forgiven but instead you left it with Heartland ECSI and you’re paying
it back as if it’s a private student loan. That could make that fifty thousand
dollars actually drastically more expensive. Imagine if you’re going for
Public Service Loan Forgiveness and your debt could have been forgiven. That fifty
thousand Heartland ECSI loan would actually have been totally
forgiven if you’d only taken it out as a Stafford or Grad PLUS instead. Luckily,
there’s a way to remedy this. All you have to do is consolidate your student
debt by going to studentloans.gov, click on the “Consolidate My Loans” section, and
you will be able to contact the Department of Education to try to get
those Health Professions loans and other kinds of loans with Heartland ECSI, if
they’re at a five percent, consolidated to convert them into a direct student loan.
This is really complicated, and this shows you why people pay us the big bucks to help them figure out a plan for their student
loan debt. Reach out to us, [email protected] We would love
to hear, potentially, what we could do for you if you have Heartland ECSI loans
and you’re really confused about the process, and why you might be able to
include those in a forgiveness strategy if you happen to have a lot of loan debt.
I’m Travis from Student Loan Planner, thank you so much for watching, and good
luck managing and figuring out Heartland ECSI debt if you have it.