Posted Date: November 12, 2019

Author:  Federal Student Aid

Subject: Federal Perkins Loan Program Cash on Hand Update due December 13, 2019

As published in the Federal Register notice on January 24, 2019 (84 FR 351), Subject: 2019–2020 Award Year Deadline Dates for Campus-Based Programs, all schools that participate in the Federal Perkins Loan (Perkins Loan) Program must update and submit Part III, section A, Line 1.2 (Cash on hand and in depository as of 10/31/2019) on the Fiscal Operations Report for 2018–19 (on the 2020–21 FISAP) to the Department of Education (the Department) no later than 11:59 p.m. Eastern time (ET) on Friday, December 13, 2019. This announcement is a reminder of the deadline and process for this action.

Reporting Perkins Cash on Hand

Schools with a Federal Perkins Loan Revolving Fund must update Part III, Section A, Line 1.2 (Cash on hand and in depository as of 10/31/2019) to the amount that was on hand as of October 31, 2019. Instructions for completing this item are on page 29 of the FISAP Instructions.

Other Important Notes

Remember to submit the updated FISAP – Simply validating and/or saving the new data entry does not result in submission to the Department. After updating and validating Line 1.2, it is imperative that schools complete the process by using the “Submit” button.

Verify that changes/corrections have been received by the Department – Schools should log in to the Common Origination and Disbursement (COD) Web Site, and from the School tab, select the link for Campus-Based. Once directed to Campus-Based, select “Self-Service” then select “Submission Log” to view the log and verify submission of the update.

Signature not required for FISAP changes – Currently, schools are not required to submit another signature page when changes are made to a previously submitted FISAP.

Contact Information

For additional information about Perkins Loan Cash on Hand updates, contact the COD School Relations Center at 1-800-848-0978. You may also email CODSupport@ed.gov.

   

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