| DCLPublicationDate: 6/1/98 DCLID: CB-98-9 AwardYear: Summary: This letter provides instruction concerning the Assignment of defaulted Federal Perkins Loans and National Direct (or Defense) Student Loans (NDSLs) to the U.S. Department of Education (ED) for collection that expires June 30, 1998. June 1998 CB-98-9 Federal Perkins Loan Program (Formerly National Direct/Defense Student Loan Programs) Assignment Submission Procedures SUMMARY: This letter provides instruction concerning the Assignment of defaulted Federal Perkins Loans and National Direct (or Defense) Student Loans (NDSLs) to the U.S. Department of Education (ED) for collection that expires June 30, 1998. Dear Colleague: The existing ED Form 553 Federal Perkins Loan Program Assignment Forms are marked with an expiration date of June 30, 1998. Unfortunately, the new forms will not be cleared by the Office of Management and Budget (OMB) by that date (OMB#1840-0091). Your institution may continue submitting forms for assignment to the Student Loan Processing Center (SLPC), Greenville, Texas, for one additional month. You may use the existing forms with an expiration date of June 30, 1998, through July 31, 1998. Any forms with this date received by the SLPC after July 31, 1998, will not be processed and will be returned to the school. Once the new form is approved by OMB, your institution will be notified and you may begin submitting the new form to ED for processing. Any questions or concerns regarding this form should be directed to the Perkins Assignment Specialists with the Debt Collection Service at (202) 708-4766. Sincerely, Diane E. Rogers Acting Deputy Assistant Secretary Student Financial Assistance Programs |