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Viewing Perkins MPN Data

You can view Perkins MPN data from several pages within the system. This section discusses how to:

Page Name

Definition Name

Navigation

Usage

Perkins Loan Indebtedness

SFA_PERK_MPN_INDEB

select Financial Aid, then select Loans, then select View Perkins Loan Indebtedness, then select Perkins Loan Indebtedness

Review the MPN type, format, dates, and loan indebtedness history that the student has incurred at your institution.

Perkins MPN

SFA_PERK_MPN_SEC

Click the Perkins MPN link on the Financial Aid Status page.

Review Perkins MPN information, loan history, and sample repayment schedules.

Access the Perkins Loan Indebtedness page (select Financial Aid, then select Loans, then select View Perkins Loan Indebtedness, then select Perkins Loan Indebtedness).

Image: Perkins Loan Indebtedness page

This example illustrates the fields and controls on the Perkins Loan Indebtedness page. You can find definitions for the fields and controls later on this page.

Perkins Loan Indebtedness page

This page provides the key MPN dates along with the student's detailed Perkins loan indebtedness history at your institution.

MPN Information

Field or Control

Definition
MPN Type (master promissory note type)

Displays the option (annual or multi-year) the institution selected.
MPN Format (master promissory note format)

Displays the format.
Created Date

Displays the date on which the system generated the note.
Signature Date

Displays the date on which the borrower signed the note.
MPN Expire Date (master promissory note expire date)

Displays the expiration date for a multi-year MPN. This is only required for schools who are using the multi-year note. The expiration date is based on any one of the following federal definitions:

  • The date that the school receives the borrower's written request for no additional MPN loans.

  • Twelve months after the signature date if no disbursements are made under the MPN.

  • Ten years after the signature date or the date of school's receipt of the MPN.

Note: The system maintains this field. The user does not update it. When the system updates a Perkins MPN signature date, it automatically sets the MPN Expire Date to twelve months after the signature date. After a disbursement has occurred, the system updates and changes the MPN Expire Date to ten years after the signature date.
MPN Closed Date (master promissory note closed date)

Displays the date on which the school closed a loan based on the written request of the student to cancel further loans for the multi-year MPN.

Loan History

Field or Control

Definition
Aid Year

Displays the aid year for the expected and actual Perkins award.
Expected Award

Displays the expected Perkins award amount.
Actual Award

Displays the actual or disbursed Perkins award amount.

Note: The awards in the list are any financial aid item type where the aggregate area is tied to Perkins, even if the item type is not flagged as MPN required. The system keys loan history amounts by school code. Therefore, the system consolidates and displays only loan amounts associated to valid school codes for the institution.

Access the Perkins MPN page (select Financial Aid, then select View Financial Aid Status, then select Financial Aid Status, then select click the Perkins MPN Required link).

Note: The system displays Perkins MPN Required without a link if the system determines that a Perkins MPN is required and a Perkins MPN record does not exist.

Image: Perkins MPN page (1 of 2)

This example illustrates the fields and controls on the Perkins MPN page (1 of 2). You can find definitions for the fields and controls later on this page.

Perkins MPN (master promissory note) page (1 of 2)

Image: Perkins MPN page (2 of 2)

This example illustrates the fields and controls on the Perkins MPN page (2 of 2). You can find definitions for the fields and controls later on this page.

Perkins MPN (master promissory note) page (2 of 2)

MPN Information

Field or Control

Definition
MPN Type (master promissory note type)

Displays the option (annual or multi-year) that the institution selected.
MPN Format (master promissory note format)

Displays the format.
Created Date

Displays the date on which the system generated the note.
Signature Date

Displays the date on which the borrower signed the note.
MPN Expire Date (master promissory note expire date)

Displays the expiration date for a multi-year MPN. This is only required for schools who are using the multi-year note. The expiration date is based on any one of the following federal definitions:

  • The date that the school receives borrower's written request for no additional MPN loans.

  • Twelve months after the signature date if no disbursements are made under the MPN.

  • Ten years after the signature date or the date of school's receipt of the MPN.

Note: The system maintains this field. The user does not update it. When the system updates a Perkins MPN signature date, it automatically sets the MPN Expire Date to twelve months after the signature date. After a disbursement has occurred, the system updates and changes the MPN Expire Date to ten years after the signature date.
MPN Closed Date (master promissory note closed date)

Displays the date on which the school closed a loan based on the written request of the student to cancel further loans for the multi-year MPN.

Loan History

Field or Control

Definition
Aid Year

Displays the aid year and total indebtedness for the expected and actual award.
Expected Award

Displays the aid year and total indebtedness for the expected and actual award.
Expected Award

Displays the expected award amount.
Actual Award

Displays the actual award amount.

Note: The awards in the list are any financial aid item type where the aggregate area is tied to Perkins, even if the item type is not flagged as MPN required. The system keys loan history amounts by school code. Therefore, the system consolidates and displays only loan amounts associated to valid school codes for the institution.

Sample Repayment Schedule

Field or Control

Definition
Total Amount Borrowed

Displays examples of a total amount borrowed.
Monthly Payment

Displays examples of a monthly payment based on the borrowed amount.
Interest Paid

Displays examples of the interest paid based on the borrowed amount.
Total Repaid

Displays examples of the amount repaid based on the borrowed amount.

Note: The information in the Sample Repayment Schedule group box cannot be changed or updated.