COHEAO Releases Model Perkins Loan Act Disclosure Form

April 1, 2016

Prepared by:  Wes Huffman (whuffman@wpllc.net)

The Perkins Loan Extension Act revived the Perkins Loan Program, but it also added new disclosure requirements.  After receiving the initial guidance from the Department of Education in the form of DCL-GEN-16-05, COHEAO immediately formed a workgroup among industry leaders from both schools and their vendor partners to develop a model disclosure form designed to help schools comply with the Perkins Loan Extension Act. Click here for the sample Perkins Annual Disclosure.

The group worked collaboratively and quickly, producing the model form. Perkins Loan servicers have also indicated they are incorporating the new disclosures into their unique services and processes.  As always, please consult on-campus counsel before using this form, but we are confident this document incorporates the new requirements and the spirit of the law.

COHEAO would like to extend a special thanks to the workgroup for leading the efforts in developing these model forms.  In addition, COHEAO hosted a webinar on March 22 where workgroup participants and Perkins loan servicers went through the form in detail and answered questions to further explain the form and the work that went into developing it.

An archived version of the webinar is available online.  If you are interested in purchasing this webinar, please contact Hannah Allen (hallen@wpllc.net).