Today, U.S. Senator Patty Murray (D-WA), ranking member of the Senate Health, Education, Labor and Pensions (HELP) Committee, released the following statement on the Senate passing a bipartisan bill to extend the Perkins Loan Program. The Federal Perkins Loan Program Extension Act of 2015 builds on a bill passed unanimously by the U.S. House of Representatives in September and provides for a two-year extension of the program until a longer term solution can be put in place under the Higher Education Act. In Washington state, more than 15,000 students received Perkins Loans last year. The program disburses $120,000 to Bastyr University students in Kenmore each year.

“Letting the Perkins Loan Program expire in September took away a low-cost financial aid option from students, leaving many in the lurch, so I am glad we were able to forge a bipartisan compromise to extend this resource for students in Washington state and across the country,” said Senator Murray. “While I am pleased we are moving forward on a way to restore Perkins Loans to help undergraduates pay for college, we have much more work to do to reauthorize the Higher Education Act in a way that provides all students who want to further their education with the financial aid and affordable pathways they need to pursue their degree and help them gain a foothold into the middle class.”

In September, Murray urged her colleagues to extend the program prior to its expiration. This compromise will extend the life of the Perkins Loan Program through September 30, 2017 for eligible students.