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(CB-09-07) Subject: Change in Implementation Date for Revised Federal Perkins Loan Program Master Promissory Note (Perkins MPN) and Guidance on Electronic Version of Perkins MPN

Publication Date: October 2, 2009

DCL ID: CB-09-07

Subject: Change in Implementation Date for Revised Federal Perkins Loan Program Master Promissory Note (Perkins MPN) and Guidance on Electronic Version of Perkins MPN

Summary: This letter announces an extension of the implementation date for the revised Perkins MPN and provides guidance on implementing an electronic version of the Perkins MPN.

Dear Colleague:

In Dear Colleague Letter CB-09-05 we announced the availability of a revised and updated Perkins MPN and stated that as of October 1, 2009, only the revised MPN could be distributed to borrowers. Upon publication of CB-09-05, schools expressed concern that the October 1 deadline did not provide them with sufficient time to implement the revised MPN, especially for schools that use an electronic version of the Perkins MPN. In response to these concerns, we have decided to extend the implementation deadline for the revised Perkins MPN to December 31, 2009. Thus, as of December 31, 2009, schools may no longer distribute the previous Perkins MPN with the June 30, 2009 expiration date. Only the revised Perkins MPN with the August 31, 2012 expiration date may be distributed on or after December 31, 2009. This revised implementation date applies to both paper and electronic versions of the Perkins MPN. All other guidance provided in Dear Colleague Letter CB-09-05, including guidance on the use of the Perkins MPN Addendum, remains in effect, except that all references to October 1, 2009 should be read as December 31, 2009.

Electronic Perkins MPN: To assist schools that use an electronic Perkins MPN, we are providing with this letter Word and PDF versions of the revised Perkins MPN with the August 31, 2012 expiration date that show all of the changes from the previous version of the Perkins MPN with the June 30, 2009 expiration date. A school that offers an electronic Perkins MPN must ensure that the text of their electronic version is updated to exactly match the text of the revised Perkins MPN with the August 31, 2012 expiration date. No changes may be made to the text of the MPN except as provided in Dear Colleague Letter CB-09-05 under “Document formats for the revised Perkins MPN and Addendum.” Note that there are no changes to any of the data elements in Section A and Section B of the MPN. Schools using an electronic Perkins MPN should review the Department’s standards for electronic signatures as provided in Dear Partner Letter GEN-01-06 before implementing an electronic Perkins MPN.

When the Perkins MPN was last revised in 2006, the Department provided schools with an electronic version of the revised MPN and related documents through Dear Colleague Letter CB-06-11. Schools wishing to obtain an electronic version (HTML) of the revised Perkins MPN should send a request to Neil.Sattler@ed.gov.

Sincerely,

Jeff Baker, Director
Policy Liaison and Implementation
Federal Student Aid
U.S. Department of Education

Last Modified: 10/01/2009