This assessment provides you with an opportunity to review procedures regarding the Federal Perkins repayment process. Additional links are provided to assist you in the evaluation of your repayment or collections efforts.

We recommend that you review and evaluate your Federal Perkins repayment policies and procedures. Additional Federal Perkins repayment activities are listed in the chart below.

Federal Perkins Repayment Activity 2: Establishing a Repayment Plan File Review

Why start with the repayment plan file review?

The file review worksheet offers you the opportunity to review a sample of students who are in repayment. After completing the worksheet for each student, the school should ensure that the proper requirements are met for each student.

Note: If your school uses a third-party servicer for collection activities, it is still important for your school to determine that requirements are met for your students. The school is responsible for any inaccuracies performed by their servicer.

This activity will help you identify how well your procedures are working at your institution.

If you identify areas requiring corrective action, we recommend that you complete the Management Enhancement Worksheet.

Activity Bar:
Federal Perkins Repayment Activity 1: Grace Periods
Federal Perkins Repayment Activity 2: Establishing A Repayment Plan
Federal Perkins Repayment Activity 3: Bankruptcy Discharges
Federal Perkins Repayment Activity 4: Total & Permanent Disability

Additional Links: 2008-09 FSA Handbook, Campus-Based Programs, Chapter 4; Federal Register May 9, 2001; Federal Register November 1, 2000; DCL CB-02-08; DCL CB-02-18; Closed School Link

Federal Perkins Repayment	Activity
Grace Periods 674.2, 674.31, 674.32, 668.22	Federal Perkins Repayment Activity 1: Grace Periods
Establishing a Repayment Plan 674.31, 674.33 (a through f)	Federal Perkins Repayment Activity 2: Establishing A Repayment Plan
Multiple Loans at the Same School/Loans From Multiple Schools 674.33(b)(2), 2008-09 FSA Handbook, Campus-Based Programs, Chapter 4, pages 6-76 through 6-77
Hardship Payment Reduction 674.33(b)(5)
Discharges due to school closure 674.33(g)
Bankruptcy Discharges 674.49	Federal Perkins Repayment Activity 3: Bankruptcy Discharges
Chapter 13 Bankruptcies 11 U.S.C. 1325; 11 U.S.C. 1307; 11 U.S.C. 1307
Resuming/Terminating Billing and Collection 11 U.S.C. 727, 11 U.S.C. 1141, 11 U.S.C. 1228, 11 U.S.C. 1328(a), or 11 U.S.C. 1328(b)
Bankruptcy and Student Eligibility (Section 525(c) of the Bankruptcy Code)
Total and Permanent Disability Discharge 674.61. Federal Register November 1, 2000, DCL CB-02-08; DCL-CB-02-18; GEN-06-14	Federal Perkins Repayment Activity 4: Total & Permanent Disability
Death Discharge 674.61
Policies and Procedures Chart