Bipartisan Group of Lawmakers Introduce Perkins Loan Extension

U.S. Representatives Elise Stefanik (R-NY), Mark Pocan (D-WI), Louise Slaughter (D-NY), John Duncan (R-TN), Ileana Ros-Lehtinen (R-FL), and Mark DeSaulnier (D-CA) introduced bipartisan legislation on Wednesday to extend the Perkins Loan Program for a period of two years.

The Perkins Loan is a popular campus-based financial aid program, which supports access to higher education by providing low interest loans to students in need. Unlike many other student loan programs, Perkins is administered directly by colleges and universities who originate the loans, counsel their students through repayment, and select contractors for servicing and collection.

Absent Congressional action, the program will expire at the end of September, leaving around 500,000 students without access to important financial aid. The Perkins Loan Extension Act of 2017 would extend the Perkins program for two years in order to "provide certainty to students and their families who rely on this important program," according to a press release.

"Providing a two year extension of the program is a commonsense step towards ensuring access to this vital tool for making college more affordable," said Rep. Pocan. "Without Perkins, many students and families would be left with few options to cover college expenses."

AACRAO is listed in support of the legislation.

 

Related Links

Press Release

https://stefanik.house.gov/media-center/press-releases/bipartisan-group-introduces-perkins-loan-extension-act-2017