DCLPublicationDate: 5/1/2000 DCLID: CB-00-9 AwardYear: Summary: This letter pertains to the 1998-1999 Federal Perkins Loan Service Cancellations Reimbursement and Payment Letter MAY 2000 CB-00-09 SUMMARY: This letter pertains to the 1998-1999 Federal Perkins Loan Service Cancellations Reimbursement and Payment Letter REFERENCE: The Campus-Based Portion of the 1999-2000 Federal Student Financial Aid Handbook, Chapter 6 Dear Financial Aid Administrator: The procedure for notifying you of payment for reimbursement(s) of the Service Cancellations (Teacher/Military/Volunteer/Law Enforcement/Child/Family/Early Intervention/Nurse/Medical Technician) under the Federal Perkins Loan Program has changed for the 2000 cycle. Q. How has the procedure changed? A. Your payment letter and worksheet for your 1998-1999 reimbursement will be transmitted to you, in text format, through the Title IV WAN instead of paper copies sent by mail. Q. What should I expect to see instead of paper copies? A. You will receive a text file (FTCP01OP message class) that contains 1998-1999 Perkins Service Cancellation payment letter and computerized worksheet. Q. Where will I find the text files? A. Your text file will be sent to the Title IV WAN mailbox associated with your FISAP activities. If your school is serviced by a third party servicer, you should make arrangements with them to receive the information. Q. When should I expect to see the Perkins Service Cancellation payment letter and worksheet? A. Your payment letter and worksheet will be placed into your Title IV WAN mailbox by May 26, 2000. Q. Will I still receive my reimbursement electronically? A. Yes, funds will be issued via Electronic Fund transfer (EFT) by June 2, 2000. Q. Will I receive the full amount to which I am entitled this year? A. This year your institution will receive less than 100 percent of the reimbursement due it under Section 465 of the Higher Education Act of 1965, as amended, because of insufficient funds in the Fiscal Year 2000 Appropriation. The reimbursement calculation is based on information contained in your 1998-1999 Fiscal Operations Report and edit corrections. Q. Who do I contact if I have questions? A. Perkins Service cancellation questions should be directed to Joseph Morris on (202) 708-8745. Sincerely, JoAnn B. Pease, Team Leader SCHOOL CHANNEL Campus Based Operations & System Enclosures: The TC payment letters and TC worksheets are specific to each school and are not available on this website. Individual TC payment letters and TC worksheets were sent to each school as described above. |