|
All institutions that have a Federal Perkins Loan Program Fund and will be returning excess liquid capital, or liquidating the Loan Fund, must use the following procedures for the Fedwire Deposit system (FDS) message format. All FDS messages must comply with the attached procedures, which are required by the Federal Reserve Board. The Department of Treasury will reject any FDS message received, which is not in compliance with the format. Federal Perkins Loan Program Fund excess liquid capital and liquidation funds in the amount of $100,000 and over must comply with the standard structured third party format of Electronic Funds Transfer (EFT). Repayments under $100,000 may be mailed to the National Finance Center’s lockbox and must be made payable to the U.S. Department of Education. U. S. Department of Education P.O. Box 952023 St. Louis, Missouri 63195-2023 It is important that you properly complete Item 4 of the message format because failure to do so may result in a mis-application of your payment. If you have any questions regarding these procedures, please call one of the members of the Perkins Portfolio Management Team shown on the attached list. |