[Congressional Record (Bound Edition), Volume 161 (2015), Part 11]
[Senate]
[Page 14762]
[From the U.S. Government Publishing Office, www.gpo.gov]





                         SUBMITTED RESOLUTIONS

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 SENATE RESOLUTION 267--EXPRESSING SUPPORT FOR THE CONTINUATION OF THE 
                      FEDERAL PERKINS LOAN PROGRAM

  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:

                              S. Res. 267

       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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