@repmarkpocan introduces a bill to save Perkins Loans before expires Sept. 30.

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Melanie L. Conklin ‏@mellconklin 2m2 minutes ago

.@repmarkpocan introduces a bill to save Perkins Loans before expires Sept. 30. Via @channel_3000 #highered http://bit.ly/1L0tw14

UW-Madison students worry about end of federal student loan program
Perkins Loan program may expire on Wednesday
Published On: Sep 28 2015 06:38:08 AM CDT Updated On: Sep 28 2015 09:12:24 AM CDT

UW-Madison students worry about end of federal student loan program
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MADISON, Wis.- -

College students who need the most help paying for their education may suddenly have a big problem if lawmakers do not extend the federal Perkins Loan, which has offered up to $5,500 in financial aid every year for more than 50 years.
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The program currently benefits half a million undergraduate and graduate students nationwide who do not have to start repaying their loans until nine months after graduation, with fixed interest rates.

Right now UW-Madison's financial aid office says the loan means 4,000-5,000 students receive, on average, about $2,400 every year. In total, that is $9 million-$12 million awarded annually.

“There's nothing to replace those funds. There aren't institutional loans to cover that kind of money,” UW-Madison Associate Financial Aid Director Michelle Curtis said.” A couple of thousand dollars helps pay your housing. Buys your books. Buys a lot of food.”
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