Perkins Loan Revolving Fund Distribution of Assets and Timelines for 2018-19 Announced

Prepared by: Greg Marak

July 12, 2018

Dear COHEAO members,

Federal Student Aid (FSA) recently released the attached announcement regarding the distribution of assets and timelines for the Federal Perkins Loan revolving Fund in 2018-19.

The following is from the release:

The 2018–19 Distribution of Assets Notification Process

After the FISAP is submitted through the Common Origination and Disbursement (COD) System by October 1, 2018, the Department will send a notification to institutions that have cash in the institution’s Perkins Fund subject to the distribution of assets process. This notification will include the deadline and instructions to remit only the federal share through G5. The institutional share must be removed from the Perkins Fund and returned to the institution. For this year, due to additional system updates, we will delay the notification to schools until December.

The full announcement from FSA is available here, and attached to this Spark.