[Congressional Record (Bound Edition), Volume 161 (2015), Part 11]
[Extensions of Remarks]
[Page 15408]
[From the U.S. Government Publishing Office, www.gpo.gov]





      IN SUPPORT OF EXTENDING ``THE FEDERAL PERKINS LOAN PROGRAM''

                                 ______
                                 

                          HON. RUBEN HINOJOSA

                                of texas

                    in the house of representatives

                      Tuesday, September 29, 2015

  Mr. HINOJOSA. Mr. Speaker, I rise in strong support of extending the 
Perkins Loan Program for one year so that students can complete their 
education and join our workforce.
  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. And throughout its 57-year history, more than 
30 million students with need have benefited from this program. It is 
also the only loan program used to support graduate and professional 
schools students.
  According to the Congressional Budget office it has estimated that 
the Federal Government will reclaim nearly $5 billion over the next ten 
years. This is $5 billion that should be used to help keep college 
affordable for students in need of help.
  Without Perkins, schools would lose the necessary flexibility to help 
students cover gaps left after Federal grants and Stafford Loans are 
applied or unforeseen circumstances jeopardize a student's ability to 
pay for college. Ultimately, if Perkins is allowed to expire billions 
of dollars in student aid would be eliminated from schools' revolving 
funds.
  Perkins Loans themselves don't usually amount to more than several 
thousand dollars per student, but they can spell the difference between 
whether or not our students can attend college. In Texas, that means 
approximately over 12,000 students a year having an opportunity to 
finish their degree without unnecessary financial interruptions. This 
is not a time to abandon our students who are working hard to complete 
their education and have the same opportunities as so many other 
college graduates.
  For these reasons, I urge my colleagues on both sides of the aisle to 
extend the Federal Perkins Loan Program.

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