Schools still participating in the Federal Perkins Loan Program need to watch for an important notification from the Department of Education.
The Department recently announced that, as part of the wind-down process of the Federal Perkins Loan Program, they require an annual capital distribution from the school’s Perkins Fund.
Schools will be notified of the federal and institution shares that must be removed and returned to the Department of Education and to the institution. The federal share will be returned via G5 by the deadline outlined in the notification.
The notification will also address the amount of partial reimbursement for Perkins Loan service cancellations that the school must remove from their Perkins Fund and return to the institution.
Schools are reminded not to remove and return any funds until the Department has notified them.
Schools with questions about this announcement can contact the FSA Partner and School Relations Center by calling 1-800-848-0978 or by emailing CODSupport@ed.gov.
