ED Revises Perkins Loan Assignment Process
August 14, 2003
The Department of Education issued a Dear Colleague Letter recently announcing changes to the process for the assignment of defaulted Federal Perkins Loans, National Direct Student Loans (NDSLs) and National Defense Student Loans (Defense) to ED for collection. This process is also used by colleges and universities to close out of the Federal Perkins Loan Program. Institutions wishing to terminate their participation are required to liquidate their Perkins Loan portfolios by assigning all outstanding loans—both defaulted and nondefaulted—to ED.
Institutions are advised to review the August 2003 Dear Colleague Letter (CB-03-12) and attachments. While institutions are not compensated for any loans assigned to ED, the procedures have been streamlined to facilitate loan assignment.
For more information, contact Laurie Quarles, senior policy analyst, at (202) 861-2543 or firstname.lastname@example.org.
- Associations Respond to DACA and DREAM Act Concerns
- Congress Makes Changes to GI Bill Education Benefits
- CFPB Report Criticizes Campus Banking Agreements
- 2017 Intermediate Accounting and Reporting - Winter
January 23-24, 2017
- 2017 Endowment and Debt Management Forum
February 1-3, 2017
- WEBCAST: NACUBO Live! Results of the 2016 NACUBO-Commonfund Study of Endowments
Thursday, February 2, 2017 9:15AM ET
- WEBCAST: Compliance Challenges for the New EPA Hazardous Waste Rule
Tuesday, February 7, 2017 1:00PM ET
- ON-DEMAND: The ROI of Student Success: Practical Considerations for Measuring and Conveying the Financial Value of Student Support Services
- ON-DEMAND: The CBO's Role in Diversity and Inclusion on Campus