The U.S. Senate on Wednesday breathed new life into colleges’ efforts to revive the expired federal Perkins Loan Program.
Lawmakers passed, on a voice vote, a bipartisan deal that would revive the expired federal loan program for the next two years.
The bill by Senator Lamar Alexander of Tennessee would also impose some new restrictions on how students receive the loans. For instance, borrowers would have to exhaust their eligibility for federal direct loans before being able to receive a Perkins Loan, which is a need-based program.
Read more at Inside Higher Ed: https://www.insidehighered.com/quicktakes/2015/12/17/two-year-perkins-extension-clears-senate