[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 267 Introduced in Senate (IS)]

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114th CONGRESS
  1st Session
S. RES. 267

  Expressing support for the continuation of the Federal Perkins Loan 
                                program.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 24, 2015

  Ms. Baldwin (for herself, Mr. Portman, Mr. Casey, Ms. Collins, Mr. 
Kaine, Ms. Stabenow, Mr. Reed, Ms. Cantwell, Mr. Brown, Mrs. Feinstein, 
    Mr. Franken, Mr. Kirk, Mr. Coons, Ms. Mikulski, Mrs. Boxer, Mr. 
   Heinrich, Mrs. Shaheen, Mr. Peters, Mrs. Murray, and Mr. Warner) 
submitted the following resolution; which was referred to the Committee 
               on Health, Education, Labor, and Pensions

_______________________________________________________________________

                               RESOLUTION


 
  Expressing support for the continuation of the Federal Perkins Loan 
                                program.

Whereas the Federal Perkins Loan program is the longest running Federal student 
        loan program in the United States, created in 1958 as the National 
        Defense Student Loan Program and later called the National Direct Loan 
        Program;
Whereas Federal Perkins loans are efficient, need-based, low-interest loans that 
        serve 500,000 low-income college students with high need at 
        approximately 1,500 colleges and universities each year;
Whereas Federal Perkins loans have favorable terms for students, including--

    (1) interest is not charged while a student is in school;

    (2) the interest rate is low and fixed; and

    (3) a borrower may have all or part of a Federal Perkins loans 
cancelled if the borrower undertakes certain public service jobs for a 
period of 1 to 5 years;

Whereas participating colleges and universities share the risk of the Federal 
        Perkins Loan Program because the colleges and universities provide a \1/
        3\ match to Federal capital contributions and loans are made using funds 
        repaid by previous borrowers;
Whereas Federal Perkins loans feature the human touch of campus-based servicing, 
        which allows on-campus administrators to provide Federal Perkins 
        borrowers with 1-on-1 service;
Whereas Federal Perkins loans have made higher education possible for millions 
        of people of the United States; and
Whereas without Federal Perkins loans, thousands of people in the United States 
        will lose the chance at a higher education and a better life: Now, 
        therefore, be it
    Resolved, That the Senate strongly supports the continuation of the 
Federal Perkins Loan program in order to provide educational 
opportunities to future generations of students who need low-cost 
financing to make their dreams of higher education possible.
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