UW-Madison is one of approximately 1,700 public and private U.S. colleges and universities where low-income undergraduate and graduate students borrow money from their schools through the Federal Perkins Loan.
However, this option may soon expire. Without congressional approval to reauthorize the Federal Perkins Loan, the program will end September 30 of this year.
UW-Madison Director of the Office of Student Financial Aid Susan Fischer said she is not sure exactly why the loan is facing cancellation, but said she believes the funds could be funneled toward the national debt.