Publication Date: December 28, 2012
Subject: Electronic Version of the Revised Perkins Loan Master Promissory Note
Summary: This letter provides schools that participate in the Federal Perkins Loan Program with an electronic version of the recently approved revised Federal Perkins Loan Master Promissory Note.
Note: The MPN link attached to this word document has been removed. Please see Dear Colleague Letter GEN 15-21, published on November 12, 2015 linked here http://ifap.ed.gov/dpcletters/GEN1521.html for the current Perkins Loan Master Promissory Note. We will notify the community when a new electronic Master Promissory Note for Perkins is available for use.
In Dear Colleague Letter GEN-12-19, posted to IFAP on October 25, 2012, we announced the approval by the Office of Management and Budget (OMB) of the revised Federal Perkins Loan Program Master Promissory Note (Perkins MPN) under OMB Control Number 1845-0074. The revised Perkins MPN has an expiration date of September 30, 2015 and replaces the Perkins MPN that has an expiration date of August 31, 2012.
This letter provides schools that participate in the Federal Perkins Loan Program with an electronic version of the new Perkins MPN and supporting documentation.
The Department has issued standards for the use of electronic signatures in the Title IV loan programs in 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.
Jeff Baker, Director
Policy Liaison and Implementation
Federal Student Aid
U.S. Department of Education