H. R. 3594 
One Hundred Fourteenth Congress 
of the 
United States of America 
AT THE FIRST SESSION 
Begun and held at the City of Washington on Tuesday, 
the sixth day of January, two thousand and fifteen 
An Act 
To extend temporarily the Federal Perkins Loan program, and for other purposes. 
Be it enacted by the Senate and House of Representatives of 
the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Federal Perkins Loan Program 
Extension Act of 2015’’. 
SEC. 2. EXTENSION OF FEDERAL PERKINS LOAN PROGRAM. 
(a) AUTHORITY TO MAKE LOANS.— 
(1) IN GENERAL.—Section 461 of the Higher Education Act 
of 1965 (20 U.S.C. 1087aa) is amended— 
(A) in subsection (a), 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 need’’; 
(B) by striking subsection (b) and inserting the fol-
lowing: 
‘‘(b) AUTHORITY TO MAKE LOANS.— 
‘‘(1) IN GENERAL.— 
‘‘(A) LOANS FOR NEW UNDERGRADUATE FEDERAL PER-
KINS LOAN BORROWERS.—Through September 30, 2017, an 
institution of higher education may make a loan under 
this part to an eligible undergraduate student who, on 
the date of disbursement of a loan made under this part, 
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 institution, but only 
if the institution has awarded all Federal Direct Loans, 
as referenced under subparagraphs (A) and (D) of section 
455(a)(2), for which such undergraduate student is eligible. 
‘‘(B) LOANS
FOR
CURRENT
UNDERGRADUATE
FEDERAL 
PERKINS LOAN BORROWERS.—Through September 30, 2017, 
an institution of higher education may make a loan under 
this part to an eligible undergraduate student who, on 
the date of disbursement of a loan made under this part, 
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 institution, but only 
if the institution has awarded all Federal Direct Stafford
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Loans as referenced under section 455(a)(2)(A) for which 
such undergraduate student is eligible. 
‘‘(C) LOANS
FOR
CERTAIN
GRADUATE
BORROWERS.— 
Through September 30, 2016, with respect to an eligible 
graduate student who has received a loan made under 
this part prior to October 1, 2015, 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 stu-
dent loan fund established under this part by the institu-
tion to enable the student to continue or complete such 
academic program. 
‘‘(2) NO ADDITIONAL LOANS.—An institution of higher edu-
cation shall not make loans under this part after September 
30, 2017. 
‘‘(3) 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 
(1) for any fiscal year following fiscal year 2015.’’; and 
(C) by striking subsection (c). 
(2) RULE OF CONSTRUCTION.—Notwithstanding the amend-
ments 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, 2016 and before October 
1, 2016, for the 2016–2017 award year, may receive a subse-
quent disbursement of such loan by June 30, 2017, for which 
the borrower received an initial disbursement after June 30, 
2016 and before October 1, 2016. 
(b) DISTRIBUTION OF ASSETS FROM STUDENT LOAN FUNDS.— 
Section 466 of the Higher Education Act of 1965 (20 U.S.C. 1087ff) 
is amended— 
(1) in subsection (a)— 
(A) in the matter preceding paragraph (1), by striking 
‘‘After September 30, 2003, and not later than March 31, 
2004’’ and inserting ‘‘Beginning October 1, 2017’’; and 
(B) in paragraph (1), by striking ‘‘September 30, 2003’’ 
and inserting ‘‘September 30, 2017’’; 
(2) in subsection (b)— 
(A) by striking ‘‘After October 1, 2012’’ and inserting 
‘‘Beginning October 1, 2017’’; and 
(B) by striking ‘‘September 30, 2003’’ and inserting 
‘‘September 30, 2017’’; and 
(3) in subsection (c)(1), by striking ‘‘October 1, 2004’’ and 
inserting ‘‘October 1, 2017’’. 
(c) 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 para-
graph (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 sec-
tion, beyond September 30, 2017, on the basis of the extension 
under such subsection. 
SEC. 3. DISCLOSURE REQUIRED PRIOR TO DISBURSEMENT. 
Section 463A(a) of the Higher Education Act of 1965 (20 U.S.C. 
1087cc–1(a)) is amended— 
(1) in paragraph (12), by striking ‘‘and’’ after the semicolon;
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(2) in paragraph (13), by striking the period at the end 
and inserting a semicolon; and 
(3) by adding at the end the following: 
‘‘(14) a notice and explanation regarding the end to future 
availability of loans made under this part; 
‘‘(15) a notice and explanation that repayment and forgive-
ness benefits available to borrowers of loans made under part 
D are not available to borrowers participating in the loan 
program under this part; 
‘‘(16) a notice and explanation regarding a borrower’s option 
to consolidate a loan made under this part into a Federal 
Direct Loan under part D, including any benefit of such consoli-
dation; 
‘‘(17) with respect to new undergraduate Federal Perkins 
loan borrowers, as described in section 461(b)(1)(A), 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 (A) and (D) of section 455(a)(2); and 
‘‘(18) with respect to current undergraduate Federal Per-
kins loan borrowers, as described in section 461(b)(1)(B), 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 455(a)(2)(A).’’. 
Speaker of the House of Representatives. 
Vice President of the United States and
President of the Senate.