From what i have read it seems that the federal perkins rehab program is changing from 12 months to 9 months in July (is that right?)

If that is the case. My husband started his rehab program today with the first payment. Will it be a 12 month rehab or will it change to only 9 month rehab after the rules change. I asked the loan officer and she said she didnt even know if july was the date it was changing to 12.

I am hoping that it will change to 9 months even though i already started the 12 month.. any chance?

OK.. so i am really trying to figure this out myself but it is so hard to find current information . i was just reading this

http://ifap.ed.gov/dpcletters/attachments/GEN-06-02A.pdf

and on page 9 under defaulted loans it states the changes that are effective in 2006. but then says "these changes do not apply to the rehabilitation of defaulted Perkins Loans"

so where on earth do i find the new rules for perkins loans. or is this to imply that perkins loans have the same rules as before 12 months.

I would assume that my loan officer at the university would know these things but she isnt very helpful and keep telling me that these rules arent in effect yet so it doesnt matter... anyone???????

Loan officers, unless it is a small school, dont deal a lot with collections. Giving out the money and new regs pertaining to that side of lending takes up most of their time. Does your school have a collection department?? They are usually up on the regs or at least they are the first to know!

unfortunately that was who i was talking to... i think they know the information, i just dont think they want to go out of there way to help me. She originally told me today that i couldnt even rehab. I am just at a loss to find out the info. I thought i found something good with that PDF link, but then it says "this doesnt apply to perkins loans" i need to find a website with just CURRENT perkins loan rehab info. maybe i will have to call them tomorrow or stop in and ask to see copies of the booklet that they get the info from. I guess worst case scenario is that i can rehab in 12 months. Thanks for taking the time to respond Lynn. If you ever come across any perkins loan rehab info please let me know!

Good News for me and hopefully for many others. I hit my 9th rehab payment in August and the CA just verified with me that they have been instructed to refer loans for placement after the 9th payment. So for those of us who are currently in rehab, 9 is the magic number.

Of course everything else still applies, make payments until the loan is placed, then after the loan is placed, it may take up to 90 days for my CR to be updated.

Nine months is the magic number for my DH loans as well so far. At the eight payment we got a letter that we were one payment away. Once we made the ninth payment then we got a letter that the loan we rehabbed, now in good standing and sold. I am definitely happy we did not have to wait the full twelve months.

Now we are just waiting for the new lender to contact us with payment due dates.

I had been wondering what would happen to those already engaged in a rehab program. I just received this month's statement and on the bottom it reads ....As of July 1, 2006, ..... nine months. It even goes on to state that you can skip or miss a payment as long as there are nine consequetive payments posted. MISS A PAYMENT, THEY SAY????? NOOOOO WAY! Not taking any chances there.

It's good to know now that nine months will be the magic number as opposed to 12.

Uh oh. I've been paying since August of last year and I didn't get any notices about that. I'm about to make my 11th payment. I will read the links here; other than that, I welcome anyone's advice, please!

Lucky ducks - my state's Guarantee agent doesn't seem to be as on-the-ball as others: