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Collections Frequently Asked Questions
- What payment methods do you accept?
- Is my balance in collections preventing me from receiving any services at Cornell?
- What charges and fees have been assessed on my account?
- Is it possible to make a payment arrangement on my past due account?
- How do I dispute a parking fine in collections?
- Is my past due account being reported the credit bureaus?
- You are reporting my student loan as delinquent to the credit bureaus erroneously. How can I dispute that?
- I'm currently enrolled in school elsewhere. Can my student loans be deferred?
- I sent a school deferment last year. Do I need to do another one?
- Can I consolidate my student loans?
1. What payment methods do you accept?
Currently we are able to receive payments by mail or in person in the form of a check or money order, by wire transfer  or with cash in person. Employees of the university may elect to use payroll deduction by filling out the Collections Payroll Deduction Form and returning it to our office. For delinquent bursar, CornellCard and student loan accounts, payments can be made at http://www.ecsi.net/  .
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2. Is my balance in collections preventing me from receiving any services at Cornell?
Yes, university services including registration, leave of absence, retroactive registration, transcripts, and diplomas are withheld until payment in full is received.
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3. What charges and fees have been assessed on my account?
In accordance with the disclosure statement that each student is required to sign, finance charges are assessed on a monthly basis at 1.25% (15% annually) on all bursar and CornellCard accounts. In addition, accounts are imposed a collection fee once they become 75 days or more past due and referred to the collection department. Student loans accrue interest and late fees at the rates stated in the original promissory note.
In the event that the Collections office deems an account uncollectible, the account may be referred to an outside agency. At such time, additional collection and/or legal fees will be assessed by the collection agency. Fees may range from 25% to 45% of the total balance due. As the account holder, you are responsible for these fees.
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4. Is it possible to make a payment arrangement on my past due account?
Your collection representative would need to review your specific circumstances to determine if your past due account is eligible for an arrangement. Please contact your representative to discuss your options. Please note that university services, including registration, transcripts, and diplomas will be withheld until payment in full is made.
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5. How do I dispute a parking fine in collections?
Per Transportation Services , you have 30 days to appeal any tickets from the date the ticket was issued. If your ticket is already in collections, the appeal deadline is passed.
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6. Is my past due account being reported the credit bureaus?
Cornell University reports all student loans to all four national credit bureaus monthly. All other accounts are not reported to the credit bureaus until they are deemed uncollectible by the collections office and referred to an outside collection agency.
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7. You are reporting my student loan as delinquent to the credit bureaus erroneously. How can I dispute that?
You can do so by contacting any of the four credit bureaus directly. Once you submit your dispute, our office will be contacted to verify the accuracy of the information. We will then inform the credit bureaus if any changes are needed and then they will mail you an updated credit reporting.
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8. I'm currently enrolled in school elsewhere. Can my student loans be deferred?
If you are enrolled full-time, you may be eligible for school deferment (Federal NDSL loans are eligible for deferment at half-time status). In order to have your student loans deferred, we must have a request for Student Loan Deferment completed and returned to our office.
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9. I sent a school deferment last year. Do I need to do another one?
Yes, school deferments need to be submitted for each year in which you are eligible. Please download and complete the necessary Student Loan Deferment/Cancellation form and return it to our office.
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10. Can I consolidate my student loans?
Federal loans may be consolidated by contacting any of the consolidation companies available. However, most lenders will not accept private loans with Cornell University. You should check with the various lenders available to determine which loans may be included.
Note: By consolidating of federal student loans, you forfeit the cancellation benefits as outlined in your promissory notes.
Although Cornell University does not endorse any specific lender for consolidation, information regarding loan consolidation companies is available on our Student Loan Resources page.
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