,in the ,senate of the ,united ,states1 
,december #af1 #bjae4  ,amendment3      
,that the bill from the ,house of       
,representatives 7,h4,r4 #ceid7 entitled
 ,an ,act to extend temporarily the     
,federal ,perkins ,loan program1 and for
 other purposes41 do pass with the      
following ,strike all after the enacting
 clause and insert the following3 #a4   
,short title ,this ,act may be cited as 
the ,federal ,perkins ,loan ,program    
,extension ,act of #bjae4  #b4          
,extension of federal perkins loan      
program  7a7 ,authority to make loans   
7#a7 ,in general ,section #dfa of the   
,higher ,education ,act of #aife 7#bj   
,u4,s4,c4 #ajhg;aa7 is amended-- 7,a7 in
 subsection 7a71 by striking of         
stimulating and assisting in the        
establishment and maintenance of funds  
at institutions of higher education for 
the making of low-interest loans to     
students in need thereof and inserting  
assisting in the maintenance of funds at
 institutions of higher education for   

the making of loans to undergraduate    
students in need2  7,b7 by striking     
subsection 7b7 and inserting the        
following3  7b7 ,authority to make loans
  7#a7 ,in general  7,a7 ,loans for new 
undergraduate federal perkins loan      
borrowers ,through ,september #cj1      
#bjag1 an institution of higher         
education may make a loan under this    
part to an eligible undergraduate       
student who1 on the date of disbursement
 of a loan made under this part1 has no 
outstanding balance of principal or     
interest on a loan made under this part 
from the student loan fund established  
under this part by the institution1 but 
only if the institution has awarded all 
,federal ,direct ,loans1 as referenced  
under subparagraphs 7,a7 and 7,d7 of    
section #dee7;a77#b71 for which such    
undergraduate student is eligible4  7,b7
 ,loans for current undergraduate       
federal perkins loan borrowers ,through 
,september #cj1 #bjag1 an institution of
 higher education may make a loan under 

this part to an eligible undergraduate  
student who1 on the date of disbursement
 of a loan made under this part1 has an 
outstanding balance of principal or     
interest on a loan made under this part 
from the student loan fund established  
under this part by the institution1 but 
only if the institution has awarded all 
,federal ,direct ,stafford ,loans as    
referenced under section                
#dee7;a77#b77;,a7 for which such        
undergraduate student is eligible4  7,c7
 ,loans for certain graduate borrowers  
,through ,september #cj1 #bjaf1 with    
respect to an eligible graduate student 
who has received a loan made under this 
part prior to ,october #a1 #bjae1 an    
institution of higher education that has
 most recently made such a loan to the  
student for an academic program at such 
institution may continue making loans   
under this part from the student loan   
fund established under this part by the 
institution to enable the student to    
continue or complete such academic      

program4  7#b7 ,no additional loans ,an 
institution of higher education shall   
not make loans under this part after    
,september #cj1 #bjag4  7#c7            
,prohibition on additional              
appropriations ,no funds are authorized 
to be appropriated under this ,act or   
any other ,act to carry out the         
functions described in paragraph 7#a7   
for any fiscal year following fiscal    
year #bjae4  2 and  7,c7 by striking    
subsection 7c74  7#b7 ,rule of          
construction ,notwithstanding the       
amendments made under paragraph 7#a7 of 
this subsection1 an eligible graduate   
borrower who received a disbursement of 
a loan under part ,e of title ,,iv of   
the ,higher ,education ,act of #aife    
7#bj ,u4,s4,c4 #ajhg;aa et seq47 after  
,june #cj1 #bjaf and before ,october #a1
 #bjaf1 for the #bjaf-bjag award year1  
may receive a subsequent disbursement of
 such loan by ,june #cj1 #bjag1 for     
which the borrower received an initial  
disbursement after ,june #cj1 #bjaf and 

before ,october #a1 #bjaf4  7b7         
,distribution of assets from student    
loan funds ,section #dff of the ,higher 
,education ,act of #aife 7#bj ,u4,s4,c4 
#ajhg;ff7 is amended-- 7#a7 in          
subsection 7a7-- 7,a7 in the matter     
preceding paragraph 7#a71 by striking   
,after ,september #cj1 #bjjc1 and not   
later than ,march #ca1 #bjjd and        
inserting ,beginning ,october #a1 #bjag2
 and  7,b7 in paragraph 7#a71 by        
striking ,september #cj1 #bjjc and      
inserting ,september #cj1 #bjag2  7#b7  
in subsection 7b7-- 7,a7 by striking    
,after ,october #a1 #bjab and inserting 
,beginning ,october #a1 #bjag2 and  7,b7
 by striking ,september #cj1 #bjjc and  
inserting ,september #cj1 #bjag2 and    
7#c7 in subsection 7c77#a71 by striking 
,october #a1 #bjjd and inserting        
,october #a1 #bjag4  7c7 ,additional    
extensions not permitted ,section #dbb  
of the ,general ,education ,provisions  
,act 7#bj ,u4,s4,c4 #abbf;a7 shall not  
apply to further extend the duration of 

the authority under paragraph 7#a7 of   
section #dfa7;b7 of the ,higher         
,education ,act of #aife 7#bj ,u4,s4,c4 
#ajhg;aa7b771 as amended by subsection  
7a77#a7 of this section1 beyond         
,september #cj1 #bjag1 on the basis of  
the extension under such subsection4    
#c4 ,disclosure required prior to       
disbursement ,section #dfc;,a7a7 of the 
,higher ,education ,act of #aife 7#bj   
,u4,s4,c4 #ajhg;cc-#a7;a77 is amended-- 
7#a7 in paragraph 7#ab71 by striking and
 after the semicolon2  7#b7 in paragraph
 7#ac71 by striking the period at the   
end and inserting a semicolon2 and  7#c7
 by adding at the end the following3    
7#ad7 a notice and explanation regarding
 the end to future availability of loans
 made under this part2  7#ae7 a notice  
and explanation that repayment and      
forgiveness benefits available to       
borrowers of loans made under part ,d   
are not available to borrowers          
participating in the loan program under 
this part2  7#af7 a notice and          

explanation regarding a borrower's      
option to consolidate a loan made under 
this part into a ,federal ,direct ,loan 
under part ,d1 including any benefit of 
such consolidation2  7#ag7 with respect 
to new undergraduate ,federal ,perkins  
loan borrowers1 as described in section 
#dfa7;b77#a77;,a71 a notice and         
explanation providing a comparison of   
the interest rates of loans under this  
part and part ,d and informing the      
borrower that the borrower has reached  
the maximum annual borrowing limit for  
which the borrower is eligible as       
referenced under subparagraphs 7,a7 and 
7,d7 of section #dee7;a77#b72 and  7#ah7
 with respect to current undergraduate  
,federal ,perkins loan borrowers1 as    
described in section #dfa7;b77#a77;,b71 
a notice and explanation providing a    
comparison of the interest rates of     
loans under this part and part ,d and   
informing the borrower that the borrower
 has reached the maximum annual         
borrowing limit for which the borrower  

is eligible on ,federal ,direct         
,stafford ,loans as referenced under    
section #dee7;a77#b77;,a74  4           
,secretary