Publication Date: July 2006
DCL ID: CB-06-11
Subject: Electronic Version of the Federal Perkins Loan Master Promissory NoteSummary: This letter provides schools with an electronic version of the Federal Perkins Loan Master Promissory Note.
Posted on 07-03-2006
To assist schools and their borrowers in achieving the benefits of the Electronic Signatures in Global and National Commerce Act of 2000 (E-Sign Act), we are providing you with a revised electronic version of the Federal Perkins Loan Master Promissory Note (Perkins eMPN). The Perkins eMPN is an adaptation of the Federal Perkins Loan Master Promissory Note that we recently provided to schools through Dear Colleague Letter CB-06-10 (http://www.ifap.ed.gov/dpcletters/CB0610.html). As we noted in that Dear Colleague Letter, the only change made to the revised Perkins MPN is the addition of the new Military Deferment established by the Higher Education Reconciliation Act of 2005. Because this deferment is effective for all Federal Perkins Loans made on or after July 1, 2001, schools must notify all borrowers who received Perkins Loans on or after that date, about the availability of this new deferment. Schools may determine the most effective method for providing this notification.
As a reminder, the Department has issued standards for the use of electronic signatures in the Title IV loan programs. We provided the "Standards for Electronic Signatures in Electronic Student Loan Transactions" (Standards) to schools through Dear Partner Letter GEN-01-06 (May 2001) that is available at http://ifap.ed.gov/dpcletters/gen0106.html. It is important for schools to review the Standards before implementing the Perkins eMPN.
Attached to this letter are the following Perkins eMPN files:
Contains all necessary supporting documentation for the Perkins eMPN and options for schools that want to display the Perkins eMPN in PDF format after the borrower has signed it. The supporting documentation contains information on the format and layout of the Perkins eMPN, as well as suggested usage.
Contains two HTML files, one with style sheets and one without style sheets that is 3.0 Browser compatible.
PDF file for use by schools that want to display the Perkins eMPN in PDF format after the borrower has signed it.
If you have technical questions concerning the Perkins eMPN and its use, please contact Neil Sattler at (202) 377-3513 or via e-mail at Neil.Sattler@ed.gov. If you have questions concerning the Standards, please contact John Kolotos at (202) 377-4027 or via e-mail at John.Kolotos@ed.gov.
Jeff Baker, Director