The purpose of the Carl D. Perkins grant is to assist school districts and public two-year colleges in improving secondary and postsecondary-level career and technical education programs. Loans that have been subject to a judgement may not be consolidated. Required Perkins Repayment Information: 34 CFR 674.42(a). As you . Perkins Grant - Montgomery County Community College Upon notification that the loan has been accepted for assignment, the school must issue a check to the Department, including the borrower and loan information so that the borrowers records can be updated to reflect payment. Note: As part of the exit information, you must collect the name and address of the borrowers expected employer. See additional information about third-party servicers in Step 2 below. Local CTE providers (districts, consortia, and community colleges) receiving a Perkins V grant allocation are also required It is important to note that the Perkins Loan Revolving Fund asset distribution process accounts for changes in the Institutional Capital Contribution (ICC) matching requirements that have occurred over time, as well as any overmatching by the institution. When the borrower has fully repaid a Perkins Loan, your school must either return the original or a true and exact copy of the note marked paid in full to the borrower, or otherwise notify the borrower in writing that the loan is paid in full. Under the due diligence general requirements, schools are required to: keep borrowers informed of any and all changes that affect the borrowers rights or responsibilities; respond to any and all inquiries from borrowers; ensure that information available is provided to those school offices (admissions, business, alumni, placement, financial aid, and registrars offices) responsible for billing and collecting loans (including any third-party servicers), as needed to determine the. If you have further questions or need assistance, contact the G5 Help Desk via email at edcaps.user@ed.gov or by phone at 1-888-336-8930. What is the Comprehensive Local Needs Assessment? The Carl D. Perkins Career and Technical Education Act, known as Perkins or Perkins V, , is the main federal funding source for high school and postsecondary CTE programs. The Department has collection tools that are not available to schools, such as administrative wage garnishment, Treasury offset, and litigation by the Department of Justice. Inform the student as to the average anticipated monthly repayment amount based on the students indebtedness or on the average indebtedness of students who have obtained Federal Perkins Loans for attendance at the school or in the borrowers program of study. If you graduate or leave school, or if your enrollment drops below half time, you have the right to a nine-month grace period before beginning repayment of you Federal Perkins Loan. receiving cancer treatment, and for the six months following the conclusion of treatment if your loan entered repayment before Sept. 28, 2018. Emphasize that the borrower is obligated to repay the full amount of the loan even if the borrower has not completed the program, is unable to obtain employment upon completion, or is otherwise dissatisfied with or does not receive the educational or other services that the borrower purchased from the school. Schools can order a reconciliation report from the NSLDS Professional Access website at the link below. Schools making Perkins Loans are required to conduct exit counseling. The school should ensure that its mail distribution staff becomes familiar with these notices and the offices to which they should be distributed. Federal Perkins Student Loans are low interest loan in which your college serves as the lender. The school should request a Reconciliation Report from NSLDS when it begins the assignment process and reconcile its records against the report to ensure its portfolio has been accurately reported to NSLDS. CompleteU aims to recruit, retain, reenroll college students If your school is required to reimburse its fund, your school must also reimburse the Perkins Loan fund for the amount of the administrative cost allowance claimed on any reimbursed portion of a loan, if applicable. Comments on the revisions may be e-mailed toCTEPerkinsPlan@nysed.gov with SDPL (sender/organization name) in the subject line. Seven Tennessee community & technical colleges awarded grants totaling Electronic Announcement January 11, 2019. Strengthening Career and Technical Education (CTE) for the 21st Century The wind-down of the Perkins Loan Program does not require schools to assign non-defaulted Perkins Loans to the Department or to liquidate their Perkins Loan Revolving Funds. House funding panel proposes cuts for ED, DOL - Community College Daily Therefore, we recommend using United States Postal Service registered mail. Until the Department accepts a loan for assignment and is able to successfully report on the loan in NSLDS, the loan is still the responsibility of the school. NYSED General Information: (518) 474-3852, Office of Higher Education: (518) 486-3633, Office of the Professions: (518) 474-3817, 2015 - 2023 New York State Education Department, Accessibility | Internet Privacy Policy | Disclaimer|Terms of Use, Nontraditional Employment and Training (NET) Program, Stakeholder Input on SDPLs -- Archived Posting, Office of Postsecondary Access, Support, and Success, Next Generation Learning Standards: ELA and Math, Teaching in Remote/Hybrid Learning Environments (TRLE), New York State Alternate Assessment (NYSAA), Access, Equity and Community Engagement Services, My Brothers Keeper Teacher Opportunity Corps II, My Brothers Keeper Family and Community Engagement Program, My Brothers Keeper Exemplary School Models and Practices, My Brothers Keeper Native American Program, My Brothers Keeper Newsletter: "Changing the Narrative", Collegiate Science and Technology Entry Program (CSTEP), Enhancing Supports and Services for Students With Disabilities for Postsecondary Success (SWDPS), Higher Education Opportunity Program (HEOP), Pathways in Technology (NYS P-TECH) Program, Perkins Postsecondary Career & Technical Education Program, Regents Physician Loan Forgiveness Program (LF), Scholarships for Academic Excellence (SAE), Science and Technology Entry Program (STEP), Professional Standards & Practices Board for Teaching, Teacher and Leader Quality Partnership Program, New York State Department of Labor Industry and Occupation Projections by NYS Region, NYS Department of Labor Regional Long-term Needs Assessment 2016-2026 Statewide and Regional Long-Term Industry Projections, NYS Department of Labor Long-Term Needs Assessment 2016-2026 Statewide and Regional Long-Term Occupational Projections, technical notes and cautions about the data, perkins-v-state-plan-public-hearings-notice-11-6-19.pdf, Get information about my teacher certification, About the New York State Education Department, About the University of the State of New York (USNY), Business Portal for School Administrators. For FISAP reporting periods beyond June 30, 2022, schools must evaluate their Perkins loan portfolio to determine if additional accounts have exceeded two years in default. The Office of Postsecondary Access, Support, and Success of the State Education Department receives Perkins V federal funding for career and technical programs. Residency and Citizenship. Application for Funding - Due annually on May 1. Schools can request a reconciliation file report (REC005) online at NSLDSfap.ed.gov. Don Diego Foundation awards $62K in college scholarships to 21 San Community College Funding An official website of the State of Oregon Community College Funding Funding for Oregon's 17 community colleges supports the institutions in meeting needs for local, regional and state-level economic and workforce development. Note: Schools that use the Perkins Loan Assignment System (PLAS) for electronic submission can access information about accepted and rejected assignments through PLAS. The entire amount of the borrower payment must be forwarded to the Department. You have the right to forbearancea temporary cessation of payments, an extension of the time for making payments, or temporarily making smaller payments than were previously scheduledunder certain health-related or financial circumstances. Your school must keep the original or a copy of the promissory note for at least three years after the date the loan was paid in full. In the case of correspondence study, distance education, and students in the study-abroad portion of a program, you may provide written interview materials by mail within 30 days after the borrower completes the program. If your school is closing, please see procedures and guidance provided by the EDs School Participation Team at: https://eligcert.ed.gov. This process takes into consideration any prior reimbursement for service cancellations. Carl D. Perkins, Congressman from Kentucky (from 1949-1984), worked with President Johnson's War on Poverty and supported the creation of the U.S. Job Corps, under the Economic Opportunity Act. Assigning loans to the Department is just one of several steps in the process a school must complete in order to liquidate its Perkins Loan portfolio and complete the closeout of the program. Coconino Community College - Perkins Grant You may also email the center at CODSupport@ed.gov. Particularly, your school and its servicer should refer to guidance in Dear Colleague Letters DCL ID: GEN-15-01 Subject: Third-Party Servicer Institutional Requirements and Responsibilities, and DCL ID: GEN-16-15 Subject: Third-Party Servicer Questions and Answers, and the Electronic Announcement posted March 2017: Subject: Updated Third-Party Servicer Questions and Answers. Each year under the Perkins statute, Congress authorizes roughly $16 million annually under the Native American Career and Technical Education Program (NACTEP) to federally-recognized Indian tribes, tribal organizations, Alaska Native entities, and eligible Bureau of Indian Affairs (BIA)-funded schools to provide career and technical education programs for Native Americans and Alaska Natives. In addition, no further loans could have been made under an MPN after a school received written notice from the borrower requesting that the MPN no longer be used as the basis for additional loans, or after September 30, 2017. A Federal Perkins Loan, or Perkins Loan, was a need-based student loan part of the Federal Direct Student Loan Program, offered by the U.S. Department of Education to assist American college students in funding their post-secondary education. If you have questions regarding the Perkins Assignment and Liquidation Guide, contact the COD School Relations Center at 800-848-0978. Due to the expiration of the authority to award new Perkins Loans, the Department has not been collecting Excess Liquid Capital from a schools Perkins Loan Revolving Fund since the 20172018 award year. Official Notification of Acceptance Report When manual paper assignments are accepted, the school will receive a document identified as a Perkins Load Database Report (Acceptance Report) via email. an explanation that if a borrower is required to make minimum monthly payments, and the borrower has received loans from more than one institution, the borrower must notify an institution if he or she wants the minimum monthly payment determination to be based on payments due to other institutions. The following two systems can assist a school with the assignment and liquidation of its loans: Perkins Loan Assignment System (PLAS)allows schools to submit Perkins Loan assignments electronically. NJ colleges receive $400 million for campus updates, improvements continuing education department must work cooperatively with the Community College Perkins Contact/Coordinator in developing those aspects of the Local . *This is only a summary of your rights and responsibilities. On the Create Miscellaneous Refunds tab, enter the required details below and click continue to submit: Bank Account Information to be debited; and. (Please note: The following information is not a substitute for the complete instructions found in the Perkins Loan Assignment and Liquidation Guide on the Knowledge Center. Online Perkins Liquidation Module in the Campus-Based section of COD Systemstreamlines the Perkins Loan liquidation process for schools and provides an accessible tracking system for both schools and the Department of Education (the Department) to view and track the eventual closeout process of a schools Perkins Loan Program.