The Office of Management and Budget recently released an updated Perkins Loan Assignment Form. Schools that wish to assign Perkins Loans to the Department must begin using the new form by June 30, 2019 unless they complete assignments electronically via the Perkins Loan Assignment System online. The revised form replaces the one that recently expired on December 31, 2018. The new Expiration Date is December 31, 2021 and the form itself has a few other minor changes. According to the electronic announcement from Federal Student Aid, 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. The revised form and the instructions have been posted to the Campus-Based Processing Information Page on the IFAP Website.