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HR 3594 114th Congress House Education Higher education Student aid and college costs

Federal Perkins Loan Program Extension Act of 2015

Introduced: September 24, 2015 See on congress.gov
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 Everywhere this bill has been 20 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 18, 2015
Became Public Law No: 114-105.
Dec 18, 2015
Signed by President.
Dec 18, 2015
Presented to President.
Dec 17, 2015
Motion to reconsider laid on the table Agreed to without objection.
Dec 17, 2015
On motion that the House agree to the Senate amendment Agreed to without objection. (text as House agreed to Senate amendment: CR H9676)
Dec 17, 2015
Resolving differences -- House actions: On motion that the House agree to the Senate amendment Agreed to without objection.(text as House agreed to Senate amendment: CR H9676)
Dec 17, 2015
Mr. Bishop (MI) asked unanimous consent that the House agree to the Senate amendment. (consideration: CR H9676)
Dec 16, 2015
Message on Senate action sent to the House.
Dec 16, 2015
Passed Senate with an amendment by Voice Vote.
Dec 16, 2015
Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.
Dec 16, 2015
Measure laid before Senate by unanimous consent. (consideration: CR S8708-8709)
Sep 29, 2015
Received in the Senate, read twice.
Sep 28, 2015
Motion to reconsider laid on the table Agreed to without objection.
Sep 28, 2015
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6279)
Sep 28, 2015
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H6279)
Sep 28, 2015
DEBATE - The House proceeded with forty minutes of debate on H.R. 3594.
Sep 28, 2015
Considered under suspension of the rules. (consideration: CR H6279-6281)
Sep 28, 2015
Mr. Bishop (MI) moved to suspend the rules and pass the bill.
Sep 24, 2015
Referred to the House Committee on Education and the Workforce.
Sep 24, 2015
Introduced in House
 Plain-English summary Congressional Research Service

(This measure has not been amended since it was passed by the Senate on December 16, 2015. The summary of that version is repeated here.)

Federal Perkins Loan Program Extension Act of 2015

(Sec. 2) This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to extend the authority of institutions of higher education (IHEs) to disburse Federal Perkins Loans to new undergraduate borrowers through September 30, 2017. A student must first exhaust Federal Direct Subsidized and Unsubsidized Stafford Loan eligibility.

IHEs may continue to disburse Perkins Loans to current undergraduate borrowers through September 30, 2017. A student must first exhaust all Federal Direct Subsidized Stafford Loan eligibility.

IHEs may continue to disburse Perkins Loans to certain graduate borrowers through September 30, 2016, to enable students to continue or complete an academic program. A student must have received a Perkins loan prior to October 1, 2015.

The bill prohibits Perkins Loan disbursement beyond September 30, 2017.

It also prohibits authorization of additional appropriations for the Federal Perkins Loan program beyond September 30, 2016.

Beginning October 1, 2017, each participating IHE must pay to the Department of Education: (1) a portion of the federal share of the balance of its Perkins Loan funds; (2) a portion of the Perkins student loan payments, including principal and interest, received by the institution; and (3) a capital distribution from its Perkins Loan fund.

(Sec. 3) The bill also expands disclosure requirements for IHEs that participate in the Federal Perkins Loan program.

Specifically, prior to Perkins Loan disbursement, an IHE must provide notice and explanation to all borrowers regarding unavailability of future Perkins loans, limited Perkins loan repayment and forgiveness options, and Direct Loan consolidation options. Also, an IHE must provide notice and explanation to new and current undergraduate borrowers regarding a comparison of Perkins and Direct loan interest rates. 

What's happening now December 18, 2015

Became Public Law No: 114-105.

 Committees of jurisdiction 1
 Cosponsors 9
All 9 Democratic 5 Republican 4