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The federal Perkins student loan program will expire unless Congress renews it at the end of September. My AEI colleague, Jason Delisle, writes that permitting Perkins lapse is actually for the very best: Perkins loans add needless complexity to an already-convoluted student aid system that is federal. Though Perkins loans came near to a finish often times, Congress has frequently extended this program in the last second after dealing with stress from degree lobby teams.
Lawmakers should resist this time around, maybe not minimum as the Perkins system delivers the best advantage to rich, elite organizations which do not require federal assistance. Most Perkins bucks benefit a little piece of universities with big endowments, that are exactly the schools within the position that is best to assist their students afford tuition without taxpayers stepping in.
Perkins loans really are a animal that is strange the field of federal pupil aid. Beneath the old-fashioned Ford Direct Loan program, through which most student that is federal are created, pupils borrow cash straight through the federal federal government. Read more