Federal Register, Wednesday, August 1, 2012
Volume 77, Number 148
SUMMARY: The Federal Perkins Loan Master Promissory Note (MPN) provides the terms and conditions of the Perkins Loan program and is prepared by the participating eligible institution and signed by the borrower.
DATES: Interested persons are invited to submit comments on or before August 31, 2012.
Abstract: The Higher Education Act of 1965, as amended (HEA) established the Federal Perkins Loan Program (Perkins Loan) which provides low cost Title IV, HEA loans for eligible students to pay the costs of a student's attendance at an eligible institution of higher education. The borrower may receive loans for a single academic year or multiple academic years. The adoption of the MPN in the Perkins Loan Program has simplified the loan process by eliminating the need for institutions to prepare, and students to sign, a promissory note each award year.
Publication Date: 8/1/2012