A two-year extension of the Federal Perkins Loan Program is heading to the U.S. House of Representatives. The U.S. Senate on Wednesday approved the measure, which passed with support from both members of Wisconsin’s delegation.
The program, which was allowed to expire by Congress in September, provides low-interest loans to students who are unable to borrow from more expensive private student loan funds. In Wisconsin, Sen. Tammy Baldwin (D-WI) said it has provided more than 20,000 low-income students with more than $41 million in aid, while one in 11 UW System students were impacted by the program.
Baldwin called the passage of the extension a “significant victory for the students and families who are most in need of financial aid to make the possibility of pursuing and obtaining a UW System degree a reality.”
Sen. Ron Johnson (R-WI) said the “extension will provide greater certainty as Congress continues its work toward broader reforms in federal student aid.”