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.
- College Endowments Average -1.9 Percent Return in FY16, But Endowment Spending Continues to Rise
- Preparing for a Game-Changing Era
- Some Football Players at Private Institutions are Employees, NLRB Says
- WEBCAST: Planning Components of Civil Discourse
Wednesday, March 15, 2017 1:00PM ET
- WEBCAST: NACUBO Live! 2017 Student Financial Services Conference
- ON-DEMAND: Legislative Lunchcast: A 30-Minute Washington Update from NACUBO
- ON-DEMAND: Compliance Challenges for the New EPA Hazardous Waste Rule
- ON-DEMAND: The ROI of Student Success: Practical Considerations for Measuring and Conveying the Financial Value of Student Support Services
- ON-DEMAND: NACUBO Live! Student Financial Services Conference