Education Department Sets Deadlines for Programs With a Closed Loan Pipeline
Published Date: 5/22/2025
Notice
Summary
If your school handles Perkins Loans, Federal Work-Study, or Supplemental Grants, listen up! The Perkins Loan program stopped giving new loans, but schools still need to report on existing ones. Plus, the Department of Education set clear deadlines for submitting paperwork for the 2025-26 school year—so don’t miss out on funding or reporting on time!
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
Perkins Loans: No New Awards; Reporting Required
The authority to award new Federal Perkins Loans to students has expired. Institutions that continue to service Perkins Loans (or use a third-party servicer) are required to report all Perkins Loan activity on their Fiscal Operations Report and Application to Participate (FISAP).
2025-26 Campus-Based Submission Deadlines Set
The Department set specific 2025-26 award year deadlines institutions must meet to be considered for funding or waivers. Key dates include: Campus-Based Reallocation Form due August 20, 2025; 2026-27 FISAP (reporting 2024-25) submitted October 1, 2025 (signature page mailed); Work Colleges report and Comprehensive Transition Program expenditure report due October 1, 2025; Institutional Application for new Work Colleges applicants due October 31, 2025; FISAP edits and Perkins Cash on Hand update due December 15, 2025; returning Work Colleges application due March 2, 2026.
Waiver Deadlines and Submission Rules Explained
The notice lists deadlines and rules for waiver requests and how to submit paperwork. Requests for a waiver of the 2026-27 award year penalty for underuse of 2024-25 funds must be submitted by February 2, 2026; requests for waiver of the FWS community service expenditure requirement for 2026-27 must be submitted by April 20, 2026. Electronic submissions must be completed and accepted by 11:59:00 p.m. Eastern Time on the applicable deadline date; paper documents must be postmarked or bear a dated USPS mail receipt by the deadline, and hand-delivery of paper documents is not accepted.
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Key Dates
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