Federal Perkins Loan Assignment Form Instructions
This document provides essential information regarding the Federal Perkins Loan Assignment Form. Users can find guidance on how to complete the form and the necessary details required for submission. It is particularly helpful for educational institutions handling federal loans.
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How do I fill this out?
To fill out this form, start by gathering all required information about the borrower and the institution. Make sure to carefully read each section and provide accurate details as specified. Finally, ensure that all signatures are obtained before submission.
How to fill out the Federal Perkins Loan Assignment Form Instructions?
1
Gather all required information about the institution and borrowers.
2
Complete each section of the form accurately.
3
Attach the necessary loan manifest.
4
Ensure all required signatures are collected.
5
Submit the completed form to the designated authority.
Who needs the Federal Perkins Loan Assignment Form Instructions?
1
Educational institutions that manage Federal Perkins Loans.
2
Loan officers who require a formal assignment of loans.
3
Students needing to transfer their loan rights.
4
Financial aid offices handling federal education funds.
5
Department of Education representatives overseeing loan assignments.
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Add text boxes or annotations for additional information.
4
Preview your changes to ensure everything is correct.
5
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What are the instructions for submitting this form?
To submit the Federal Perkins Loan Assignment Form, institutions should send it to ECSI Federal Perkins Loan Servicer, 100 Global View Drive, Suite 800, Warrendale, PA 15086. You may also contact via email at productionprocessing@efpls.ed.gov for specific queries regarding submissions. Ensure that all required documents are included with the submission.
What are the important dates for this form in 2024 and 2025?
The OMB control number for this form is 1845-0048, with an expiration date of October 31, 2024. Make sure to meet all requirements and deadlines for loan assignments effectively.
What is the purpose of this form?
The purpose of the Federal Perkins Loan Assignment Form is to facilitate the assignment of loan rights from educational institutions to the U.S. Department of Education. This process ensures proper management and handling of federal education funds. By completing this form, institutions comply with federal regulations while transferring loan ownership.
Tell me about this form and its components and fields line-by-line.
- 1. Institution Name: The official name of the educational institution.
- 2. OPEID Number: The Office of Postsecondary Education Identification Number.
- 3. Street Address: The physical address of the institution.
- 4. City: The city where the institution is located.
- 5. State: The state where the institution is situated.
- 6. ZIP Code: The postal code for the institution's address.
- 7. Authorized Official's Name: The printed name of the person certifying the information.
- 8. Certification Date: The date the form is signed.
What happens if I fail to submit this form?
Failure to submit the Federal Perkins Loan Assignment Form may result in the inability to transfer loan rights. Institutions may face compliance issues when managing federal funds. Hence, timely and accurate submission is encouraged to avoid complications.
- Lack of Loan Assignment: Without form submission, loan assignments cannot be processed.
- Compliance Risks: Institutions may fall out of compliance with federal regulations.
- Delayed Funding: Failure to submit may result in delays in accessing needed funds.
How do I know when to use this form?
- 1. Loan Assignment: When transferring loans from the institution to the Department.
- 2. Regulatory Compliance: To maintain adherence to federal education laws.
- 3. Record Keeping: Facilitates accurate tracking of student loan transfers.
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