Perkins Loan Program Inflation Adjustment Act of 2016

Bill: 114-hr-6444
Sponsor: full_name: Rep. Meng, Grace [D-NY-6]
Introduced: 2016-12-06
Policy area: Education
Latest action: action_date: 2016-12-06
text: Referred to the House Committee on Education and the Workforce.

Summaries:
action_date: 2016-12-06
action_desc: Introduced in House
text: <p><b>Perkins Loan Program Inflation Adjustment Act of 2016</b></p> <p>This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to adjust the maximum annual and aggregate amount that a student may borrow under the Federal Perkins Loan program to account for inflation. </p>

tv_txt: I 114th CONGRESS 2d Session H. R. 6444 IN THE HOUSE OF REPRESENTATIVES December 6, 2016 Ms. Meng introduced the following bill; which was referred to the Committee on Education and the Workforce A BILL To amend the Higher Education Act of 1965 to require the Secretary of Education to annually adjust Federal Perkins loan amounts for inflation.

1. Short title This Act may be cited as the Perkins Loan Program Inflation Adjustment Act of 2016 . 2. Federal Perkins loan amounts adjusted for inflation Section 464(a)(2) of the Higher Education Act of 1965 ( 20 U.S.C. 1087dd(a)(2) ) is amended by adding the following: (C) With respect to each academic year, the Secretary shall adjust the amounts described in subparagraphs (A) and (B) by the percentage equal to the estimated percentage change in the Consumer Price Index (as determined by the Secretary using the definition in section 478(f)) for the most recent calendar year ending prior to the beginning of that academic year. .