The updated Assignment and Liquidation Guide is now available on the Campus-Based Processing Information page on the Knowledge Center. Perkins Liquidation and Assignment is highlighted in its own box on the right side of the page. Note: We encourage schools to bookmark the Campus-Based Processing Information Page for easy reference.
The Assignment and Liquidation Guide (Guide) has been updated to reflect necessary changes due to updated address information for the Federal Perkins Loan Servicer, ECSI, as a result of their recent move to a new office location. The Guide was also updated to reflect a change in the assignment and operational procedures for loans that have missing or defective (e.g., incomplete, not signed) promissory notes. The U.S. Department of Education believes this new, streamlined alternative documentation submission process is less confusing and burdensome on schools.
In addition to the necessary changes noted above for the assignment process, the Guide was updated to provide further clarity and detail on the steps involved for liquidation and closeout of the Federal Perkins Loan Program. The previous eight steps have been restructured to match the six Perkins Loan Liquidation Steps tied to the online process in the Common Origination and Disbursement (COD) System.
Contact Information
If you have questions about this announcement, contact the ECSI Federal Perkins Loan Servicer at 1-866-313-4130. You may also email clientsupport@efpls.ed.gov.