Posted Date:January 11, 2019
|Author:||Federal Student Aid|
Subject: Revised Perkins Assignment Form and Instructions Now Available
We are pleased to announce the availability of the revised Federal Perkins Loan (Perkins Loan) Assignment Form. We have also updated the instructions for the form.
Perkins Loan Assignment Form
The Office of Management and Budget (OMB) has approved a revised version of the Perkins Loan Assignment Form under OMB Control No. 1845-0048. The new expiration date is 12/31/2021. The new version replaces the previous version with an expiration date of 12/31/2018.
Changes to the Form
The two-part Perkins Loan Assignment Form has changed. The Date of First Disbursement was moved from the required manifest portion (Section C) of the Institutional Certification page to the historical loan information portion (Section C) of the Borrower and Loan Information page. As a result, some of the data fields on the Borrower and Loan Information page have been shifted and renumbered. The Date of First Disbursement is the new field 20, followed by the Date of Last Disbursement as new field 21, and so on.
This change places the historical loan information together, and should help ensure schools and third-party servicers provide all required data on the form.
With the change in field numbers, we also made corresponding updates to the Perkins Loan Assignment Form Instructions.
Implementation of the Form
Schools and third-party servicers should begin utilizing the OMB-approved form immediately; however, the Department of Education will continue to accept assignment forms with the previous expiration date of 12/31/2018 through 06/30/2019.
The revised form and the instructions have been posted to the Campus-Based Processing Information Page. To navigate to the Campus-Based Processing Information page from the Information for Financial Aid Professionals (IFAP) Web site’s home page, click on the Processing Resources box then click on the Campus-Based Processing Information link. Perkins Liquidation and Assignment information is highlighted in an orange box on the right side of the page.
Schools may also complete assignments electronically using the Perkins Loan Assignment System.
If you have questions about the Perkins Loan Assignment Form, contact the Federal Perkins Loan Servicer – School Customer Service by phone at 1-844-301-2620 or by email at email@example.com.