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Federal Student Aid - IFAP: Home

The Information for Financial Aid Professionals (IFAP) website consolidates guidance, resources, and information related to the administration and processing of Title IV federal student aid into one online site for use by the entire financial aid community. The most recent postings to the site are listed in the What's New section.

Actived: Thursday Mar 4, 2021

URL: https://ifap.ed.gov/

Federal Student Aid - IFAP: Federal Family Education Loan

program or other off-campus program, the school must provide entrance counseling information by mail before releasing loan proceeds. A correspondence school must also provide the information by mail before releasing loan proceeds. Recognizing that each school and each student's situation is different,

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Perkins Loan Billing 5 Collection and Default

must send the coupons to the borrower at least 30 days before the first payment is due when using a coupon payment system. If the school does not use a coupon system, it must, at least 30 days before the first payment is due, send the borrower a statement of account and a written notice giving the name and address of the party

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Federal Student Aid - IFAP: Federal Family Education Loan

year abroad program or other off-campus program must provide the entrance counseling information by mail before release of the loan proceeds. A correspondence school must also provide the information by mail before releasing loan proceeds. Schools using Appendix D default reduction measures must administer a written test covering the terms and

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Federal Student Aid - IFAP: Federal Family Education Loan

Payment coupons or billing statements are sent as a convenience for the borrower; failure to receive them does NOT mean the borrower is not required to make payments. - LOAN REFINANCING AND LOAN CONSOLIDATION SHOULD BE EXPLAINED again, and students should be referred to their lenders for more detailed information about these options.

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Federal Student Aid - IFAP: Federal Perkins Loan Program

billing. If so, the school must send the coupons to the borrower at least 30 days before the first payment is due. If the school does not use a coupon system, it must, at least 30 days before the first payment is due, send the borrower a statement of account and a written notice giving the name and address of the party to which payments should

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Federal Student Aid - IFAP: Federal Perkins Loan Program

billing. If so, the school must send the coupons to the borrower at least 30 days before the first payment is due. If the school does not use a coupon system, it must send the borrower, at least 30 DAYS before the first payment is due, a written notice giving the name and address of the party where payments should be sent and a statement

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Perkins Loan Billing, 5 CHAPER Collection, and Default

The school must send the coupons to the borrower at least 30 days before the first payment is due when using a coupon payment system. If the school does not use a coupon system, or the account is written off. Late charges The assessment of late charges on an overdue Perkins Loan borrower is now optional. A school that adopts a policy of

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Federal Student Aid - IFAP: The Secretary amends the

handling (e.g., multiple payment coupons enclosed with the check, a written note on the billing statement or other written instructions, or oral instructions to the lender documented in the borrower's file) should be at the option of the lender. The Secretary now believes that, absent the borrower's instruction, the most responsible approach to

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