This volume describes the Federal Perkins Loan Program, which comprises Federal Perkins Loans, National Direct Student Loans (NDSLs), and National Defense Student Loans (Defense Loans). Perkins Loans and NDSLs are low-interest long-term loans made through school financial aid offices to help needy undergraduate and graduate students pay for postsecondary education. Some recent changes in student eligibility, types of promissory notes, and loan discharges due to death or disability are outlined for the 2002-2003 academic year. The chapters are: (1) "Participation, Fiscal Procedures, & Records"; (2) "Student Eligibility"; (3) "Making & Disbursing Loans"; (4) "Repayment"; (5) "Forbearance & Deferment"; (6) "Cancellation"; (7) "Due Diligence: Billing & Collection"; and (8) "Default. An appendix 'I discusses November 2001 Perkins and NDSL Promissory Notes.