Dear Valued Colleague:
The battle surrounding the extension of the Perkins Loan Program is capturing headlines on a daily basis. Earlier this week, U.S. Senator Charles Schumer promised that he’ll use his clout in the Senate to make sure the low-interest Perkins Loan Program for college students is included in the next federal budget. As you are well aware, COHEAO continues to fight for Perkins, as do other higher education associations and our many allies in Congress. The fight is far from over and we need your help!
Thousands of students around the country have had their loans suddenly cancelled because the loans were not disbursed by September 30th. We know that these cases are documented and that usually, the student was not at fault as technical problems at the Department of Education or other factors led to the lost loans. The opposition contends that the current grandfathering provision ensures continued funding for Perkins recipients. What they fail to acknowledge is that under the current grandfathering provision, Perkins borrowers lose access to any future loans when they change majors or transfer schools. The Department of ED reports that 80 percent of students change majors at least once.
This is where WE NEED YOUR HELP, ASAP! Please take a few minutes to complete this brief survey so that COHEAO can quantify the harm caused by not extending the Perkins Loan Program and communicate the facts to Congress. This survey includes an area where you can provide specific examples of harm to students that lost their loans or include personal testimonials from those students.
Thank you and we look forward to your feedback.
Associate Director, COHEAO