The Future of Perkins Loans

Attention Perkins Loan Advocates:
Current and Future Perkins Loan Borrowers NEED YOUR HELP!

ISSUE:  This proven and longstanding loan program is in jeopardy.  In order for the Perkins Program to continue beyond the 2015-16 award year, Congress must reauthorize the program or extend the September 30, 2015 sunset date. Capitol Dome

BACKGROUND: Throughout the 57-year history of the Perkins Loan Program, $7.9 billion in federal contributions have been leveraged with contributions from colleges to generate more than $36 billion in funding for low-cost student loans.  To date, more than 30 million students with need have benefited from Perkins Loans.

BENEFITS: Perkins Loans provide critical support to students with economic need, offering low-cost loans with flexible repayment terms and generous forgiveness options that are public-service oriented.  In 2013-2014, close to 500,000 students with need were awarded nearly $1 billion in Perkins loans.  This funding is critical to students who may not qualify for any other financing options, including more costly private loans, and therefore would be unable to complete their education.

STATUSOn September 28, 2015, the US House of Representatives passed H.R. 3594, the Higher Education Extension Act, on a voice vote. The bill would extend the Perkins Loan Program for one year.

Contact Your Congressional Member

US CapitolAlert your University President, Government Relations Office & Colleagues to contact their Congressional Member and ask them to include the Federal Perkins Loan Program in the Higher Education Act Reauthorization.  Let them know the importance of the Perkins Loan Program to your students and school. 

Resources to assist in your advocacy efforts are included below.


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