TO: COHEAO Members
FR: Harrison Wadsworth, Executive Director
Andrew Stringer, Washington DC Staff
Dear Colleague Letter on assigning defaulted Perkins Loans
On August 1, the Department of Education released a Dear Colleague Letter on assigning defaulted Perkins Loans. The letter, authored by Jeff Baker, director of Policy Liaison and Implementation, describes new forms and procedures for assigning loans. The Dear Colleague covers new procedures for several new areas including:
- Assignment of loans made using an electronically signed promissory note;
- Assignment of loans made under a Perkins MPN; and
- Reporting “Dates(s) of First Disbursement” of the Manifest.
The Dear Colleague Letter also includes several attachments including assignment procedures; specific instructions for the Perkins Assignment Form; and the actual assignment form itself. It notes that the loans are assigned without recompense and that any funds collected by ED are the property of the US Government. Also noted are procedures for reconciling assigned loans with NSLDS.
To view the letter and download the instructions, visit:
http://ifap.ed.gov/dpcletters/CB0612.html
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