News

Elsewhere-Bush proposes elimination of Perkins Loans

UWM Post (U. Wisconsin-Milwaukee)

(U-WIRE) MILWAUKEE-For the fourth year in a row, President George W. Bush has proposed cuts to education funding that will affect college access and affordability for students nationwide unless students speak out.

“For those students who still have unmet needs and families who can’t afford to contribute, the Perkins Loans fill in the gap,” said Bruce Caplin, national co-chair of the Coalition of Higher Education Assistance Organizations Grassroots Action Network.

A lobbying firm for schools and other organizations who work to promote access to higher education, COHEAO focuses on legislative and regulatory advocacy for federal Perkins and other campus-based student loan programs.

The Perkins Loan is awarded to students with exceptional financial need. The school acts as the lender using a limited pool of funds provided by the federal government.

“The Perkins Loan is the best student loan available,” Caplin said. It is a subsidized loan, with the interest paid by the federal government during the time a student is in school and the nine-month grace period that follows. There are no fees and the interest rate is five percent over the 10-year repayment period.

Bush’s budget completely eliminates the Perkins Loan program, a program that offers benefits other loans do not. If enacted, more than 670,000 student borrowers would lose out on partial or total loan forgiveness if they became teachers, law enforcement officers or if they serve in the military.

February 21, 2006

Reporters

The Miami Hurricane

Student newspaper at the University of Miami


Around the Web
  • Miami Herald
  • UM News
  • Error

The University of Miami has a starting quarterback. On Tuesday, 11 days before the 2017 home opener, ...

Mark Richt, pleased and seemingly confident about his selection of redshirt junior Malik Rosier as t ...

Once known as ‘Quarterback U,’ the Miami Hurricanes have a spotty record of producing top signal cal ...

View photos from the Miami Hurricanes' football practice on Tues., Aug. 22, 2017 … Click to Con ...

Duke Johnson, the all-time leading rusher in Miami Hurricanes history, was one of a dozen members of ...

Students and faculty gathered at the Rock to catch a glimpse of the solar eclipse. ...

The University of Miami has embarked on an ambitious 10-year housing plan that will transform the st ...

UM’s new chief academic officer holds some 40 patents, and in 2017 was inducted into the National Ac ...

University of Miami students and researchers are blogging during a month-long expedition in the Gulf ...

María de Lourdes Dieck-Assad, a world-renowned economist and former ambassador, fills a new role for ...

RSS Error: A feed could not be found at http://www.hurricanesports.com/. A feed with an invalid mime type may fall victim to this error, or SimplePie was unable to auto-discover it.. Use force_feed() if you are certain this URL is a real feed.

TMH Twitter Feed
About TMH

The Miami Hurricane is the student newspaper of the University of Miami in Coral Gables, Fla. The newspaper is edited and produced by undergraduate students at UM and is published weekly on Thursdays during the regular academic year.