New Perkins Promissory Note Released
June 28, 2006
A revised master promissory note for the Federal Perkins Loan program is now available. Effective July 1, institutions may no longer distribute the old Perkins MPN, which expired June 30. A loan may be made using the expiring MPN only if it was sent to the borrower before June 30. A revised electronic version of the MPN will be available soon, according to the Department of Education.
The only change to the MPN is the addition of the new military deferment enacted as part of the Higher Education Reconciliation Act in February. Note that institutions are required to notify all borrowers who received Perkins loans after July 1, 2001, about the availability of this new deferment.
The MPN is an attachment to ED Dear Colleague letter CB-06-10.
The NACUBO contact for student aid issues is Anne Gross, vice president, regulatory affairs.
- IRS Releases Final Report on College and University Compliance Project
- NACUBO Seeks Input on Ethics, Fraud, and Controls
- FY13 Implementation Reminder for Independent Institutions
- 2013 Higher Education Accounting Forum
May 19-21, 2013
- CAO and CBO Collaborations: Leveraging Institutional Capacity to Impact Effectiveness
August 5-6, 2013
- 2013 Planning and Budgeting Forum
September 16-17, 2013
- WEBCAST: The Higher Education Accounting Forum Online
Wednesday, May 29, 2013 10:00 AM - 5:00 PM ET
- WEBCAST: Improve Your NFP Audit and Accounting Guide IQ
Wednesday, June 26, 2013 1:00 PM ET
- ON-DEMAND: OD: The Cashless and Paperless Business Office
- ON-DEMAND: Affordable Care Act: Implementation Roadmap for Colleges and Universities
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis