From: Denis Riker (driker@barnard.edu)
Date: Thu Feb 08 2001 - 16:05:53 EST
Some additional info from ED:
>From: "Littlejohn, Pamela" <Pamela_Littlejohn@ed.gov>
>To: "'driker@barnard.edu'" <driker@barnard.edu>
>Subject: Additional POA information
>Date: Thu, 8 Feb 2001 14:53:12 -0500
>X-Mailer: Internet Mail Service (5.5.2653.19)
>X-MIME-Autoconverted: from quoted-printable to 8bit by
>bc.barnard.columbia.edu id f18JsF029668
>
>Mr. Riker -- Here is some additional information that I received today
>regarding the POA question you posed. This is a little more detailed, but
>since I got the late response, I wanted to send it to you anyway.
>
>The Perkins regulations do not provide for third-parties signing promissory
>notes on behalf of a student. Section 674.16(a)(1) of the regulations says:
>"Before an institution makes its first disbursement to a student, the
>student shall sign the promissory note. . ."
>
>The regulations prohibit an institution from obtaining a student's power of
>attorney to endorse any check used to disburse loan funds, without prior
>approval by the Department [674.16(h)]. The use of power of attorney in
>limited circumstances applies to endorsing loan checks, not to signing
>Promissory Notes.
>
>In the case of borrowers studying abroad, students should sign the
>Promissory Notes and mail them back to the institution.
>
>
> > »§«:* `³¤³ `*:»«:* `³¤³ `*:»§
> Pamela L. Littlejohn
> Customer Service Call Center
> pamela_littlejohn@ed.gov
> 1-800-433-7327 or (202) 690-0620
> > »§«:* `³¤³ `*:»«:* `³¤³ `*:»§
> >
************************************************************************************************
Denis Riker, Bursar
Barnard College, Columbia University
3009 Broadway
NY, NY 10027-6598
Voice: (212) 854-2026
Fax: (212) 854-3888
E-mail: driker@barnard.edu
Web: www.barnard.edu/bursar
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