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S. 1808: Federal Perkins Loan Program Extension Act of 2017

The text of the bill below is as of Sep 14, 2017 (Introduced).


II

115th CONGRESS

1st Session

S. 1808

IN THE SENATE OF THE UNITED STATES

September 14, 2017

(for herself, Mr. Portman, Mr. Casey, Ms. Collins, Mr. Johnson, Mr. Durbin, Mr. Reed, Mrs. Shaheen, and Mrs. Feinstein) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions

A BILL

To extend temporarily the Federal Perkins Loan program, and for other purposes.

1.

Short title

This Act may be cited as the Federal Perkins Loan Program Extension Act of 2017.

2.

Extension of Federal Perkins loan program

(a)

Authority To make loans

(1)

In general

Section 461(b) of the Higher Education Act of 1965 (20 U.S.C. 1087aa(b)) is amended—

(A)

by striking September 30, 2017 each place it appears and inserting September 30, 2019; and

(B)

in paragraph (1)(C)—

(i)

by striking September 30, 2016 and inserting September 30, 2018; and

(ii)

by striking October 1, 2015 and inserting October 1, 2017.

(2)

Rule of construction

Notwithstanding the amendments made under paragraph (1) of this subsection, an eligible graduate borrower who received a disbursement of a loan under part E of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087aa et seq.) after June 30, 2018, and before October 1, 2018, for the 2018–2019 award year, may receive a subsequent disbursement of such loan by June 30, 2019, for which the borrower received an initial disbursement after June 30, 2018, and before October 1, 2018.

(b)

Distribution of assets from student loan funds

Section 466 of the Higher Education Act of 1965 (20 U.S.C. 1087ff) is amended—

(1)

by striking October 1, 2017 each place it appears and inserting October 1, 2019; and

(2)

by striking September 30, 2017 each place it appears and inserting September 30, 2019.

(c)

Additional extensions not permitted

Section 422 of the General Education Provisions Act (20 U.S.C. 1226a) shall not apply to further extend the duration of the authority under paragraph (1) of section 461(b) of the Higher Education Act of 1965 (20 U.S.C. 1087aa(b)), as amended by subsection (a)(1) of this section, beyond September 30, 2019, on the basis of the extension under such subsection.