And other processes that have been developed for liquidation and closeout.
When each step is completed, the bullets change to check marks providing a visual representation of the school’s place in the process.
To use PLAS, the school must designate one individual at the school to gain access to PLAS first. The designated person should be an already authorized-user able to log in to Federal Student Aid (FSA) systems. The designated person will act as the Institution Administrator for PLAS access and can request access for other PLAS users at the school.
Once the PLAS User Access Form is completed, and access is granted from ECSI Federal Perkins Loan Assignment Support, users receive two emails from PLASAccess@efpls. com that contain an eight digit OPEID, Login ID, and Password credentials. With this information, users are able to log into PLAS from any computer with internet access.
Schools must ensure that its loans are properly accounted for and updated in NSLDS. Ultimately, FSA will need to verify that all loans have been updated and none remain open with the school.
FSA monitors each school’s progress in completing the Perkins Loan Assignment process and reporting Perkins records to NSLDS.
If there is no Federal Share Owed, or once a school’s remittance of Federal Share Owed has been verified, the fields in Phase 4 are available for data entry. This phase of the process streamlines the closeout process as it takes the place of the official submission of Part III of the Final FISAP by the school for purposes of Perkins closeout.
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