Sec. 3. Extension of Federal Perkins Loan program
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/bill/114/hr/3594/eh/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 461 of the Higher Education Act of 1965 ( 20 U.S.C. 1087aa ) is amended— by amending subsection
(b)to read as follows: With respect to any student who is not described in paragraph (2), an institution of higher education may make loans under this part to such a student until September 30, 2016, from the student loan fund established under this part by the institution. With respect to any student who has received a loan made under this part for an academic year ending prior to October 1, 2016, an institution of higher education that has most recently made such a loan to the student for an academic program at such institution may continue making loans under this part through March 31, 2018, from the student loan fund established under this part by the institution to enable the student to continue or complete such academic program, but only if the institution has awarded all Federal Direct Stafford Loans for which such student is eligible. No funds are authorized to be appropriated under this Act or any other Act to carry out the functions described in paragraphs
(1)and
(2)for any fiscal year following fiscal year 2015. ; and by striking subsection (c). Section 466 of the Higher Education Act of 1965 ( 20 U.S.C. 1087ff ) is amended— in subsection (a)— in the matter preceding paragraph (1), by striking After September 30, 2003, and not later than March 31, 2004 and inserting Beginning October 1, 2016 ; and in paragraph (1), by striking 2003 and inserting 2016 ; and in subsection (b), by striking After October 1, 2012 and inserting Beginning October 1, 2016 . 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, 2016, on the basis of the extension under such subsection; or the authority under paragraph
(2)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 March 31, 2018, on the basis of the extension under such subsection.
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