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.

The Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Work-Study (FWS) programs are called "campus-based" programs because each school is responsible for administering them on its own campus. A school applies for and receives funds from the U.S. Department of Education, and the school's financial aid administrator is responsible for ensuring that eligible students receive program funds. This volume covers provisions common to the Perkins Loan, FSEOG, and FSW programs, and the next three volumes discuss each of these individually. This volume contains: (1) "Participation, Fiscal Procedures, & Records"; (2) "Selecting Recipients"; and ( 3 ) "Awarding Campus-Based Aid. (SLD) I' 1.