Section 1 Short title
This Act may be cited as the “Federal Perkins Loan Program Extension Act of 2017”.
Federal Perkins Loan Program Extension Act of 2017
A BILL
To extend temporarily the Federal Perkins Loan program, and for other purposes.
Sec. 2 Extension of Federal Perkins loan program
Authority To make loans—
by striking “September 30, 2017” each place it appears and inserting “September 30, 2019”; and
in paragraph (1)(C)—
by striking “September 30, 2016” and inserting “September 30, 2018”; and
by striking “October 1, 2015” and inserting “October 1, 2017”.
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.
Distribution of assets from student loan funds— Section 466 of the Higher Education Act of 1965 (20 U.S.C. 1087ff) is amended—
by striking “October 1, 2017” each place it appears and inserting “October 1, 2019”; and
by striking “September 30, 2017” each place it appears and inserting “September 30, 2019”.
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.