In this announcement, we inform institutions and servicers that the Secretary is waiving the three-year cumulative limit requirement on forbearances for Federal Perkins Loan borrowers due to the COVID-19 national emergency.
Waiver of the Three-Year Federal Perkins Loan Forbearances Limit
Under section 464(e) of the Higher Education Act of 1965, as amended, and 34 CFR 674.33(d)(2), there is a three-year cumulative limit on the length of forbearances that a Federal Perkins Loan borrower may receive. The Secretary is waiving these statutory and regulatory requirements and will exclude borrowers from the three-year cumulative limit to assist Federal Perkins Loan borrowers during the COVID-19 national emergency.
Borrowers with loans under the Federal Perkins Loan Program who have been placed in a forbearance status will be excluded from the three-year cumulative limit on forbearances during the duration of the COVID-19 national emergency, effective March 13, 2020.
Contact Information
For questions about the information in this announcement, please contact Tamy Abernathy at 202-453-5970. You may also email at Tamy.Abernathy@ed.gov.