ERIC Number: ED454767
Record Type: Non-Journal
Publication Date: 2001
Reference Count: N/A
Student Financial Aid Handbook, 2001-2002. Volume 5: Perkins Loans.
Department of Education, Washington, DC. Student Financial Assistance.
The Federal Perkins Loan Program comprises Perkins Loans, National Direct Student Loans (NDSLs), and National Defense Student Loans (Defense Loans). Perkins Loans and NDSLs are low-interest (currently 5%), long-term loans made through school financial aid offices to help needy undergraduate and graduate students pay for postsecondary education. No new Defense Loans are being made, but a few are still in repayment. This document explains the Perkins Loan Program for financial aid administrators. Recent changes in the Perkins program are highlighted. These involve a number of issues related to eligibility, repayment, and default. The introduction describes the various loan types and recent changes to the regulations. Chapter 1, "Participation, Fiscal Procedures, and Records," describes the funds and records schools must maintain. Chapter 2 reviews student eligibility requirements, and chapter 3 discusses making and disbursing loans. Repayment is the subject of chapter 4, and forbearance and deferment of loan repayment are the subjects of chapter 5. Chapter 6 outlines cancellation procedures, including those for canceling loans for teachers. Chapter 7 discusses due dilligence in billing and collection, and chapter 8 reviews the procedures for loan default. Appendix A discusses Perkins Loan and NDSL promissory notes, and Appendix B contains an addendum to the promissory note. (SLD)
Descriptors: Eligibility, Federal Aid, Financial Aid Applicants, Higher Education, Need Analysis (Student Financial Aid), Paying for College, Student Financial Aid, Student Loan Programs
ED Pubs, P.O. Box 1398, Jessup, MD 20794-1398. Tel: 877-433-2748 (Toll Free), Web site: http://www.ifap.ed.gov.
Publication Type: Guides - Non-Classroom
Education Level: N/A
Audience: Administrators; Practitioners
Authoring Institution: Department of Education, Washington, DC. Student Financial Assistance.
Identifiers - Laws, Policies, & Programs: Perkins Loan Program