DEPARTMENT DECIDES TO MAINTAIN PERKINS MANDATORY ASSIGNMENT DEADLINE OF JUNE 30, 2023

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May 30, 2023 · by COHEAO · Spark Notes

May 30, 2023 – Despite COHEAO’s letter and petition campaign asking the Department to extend the Perkins mandatory deadline date another year, the Department of Education (ED) announced late Friday, May 26 that they will NOT be extending the deadline. The announcement reiterates that schools are required to assign all Perkins Loans that are more than 2 years in default or purchase those loans by June 30, 2023.

For those schools where this deadline will be extremely difficult to meet, COHEAO encourages you to quickly reach out to the Department to inform them of your difficulty. It is believed that ED will evaluate schools circumstances on a case-by-case basis. To this end, the guidance states “However, if your institution is facing specific challenges in meeting this deadline, you can reach out to FSA to discuss an appropriate timeline to assign these loans.” Continue to follow COHEAO guidance with regard to Perkins Loans assignment of developing a plan of attack, starting with your older loans and continuing to work through them.

The Department’s announcement can be found here. Should you have any questions, please do not hesitate to reach out to COHEAO’s Executive Director, Bob Moran (rmoran@bosepublicaffairs.com).