April 18, 2008

Colleges Report Money Available for Perkins Loans Is Shrinking

By KELLY FIELD

Across the country, colleges are reporting significant declines in the amount of federal Perkins Loan money that they have available to lend to students. The drop, which is due to cuts in federal support and a decline in the consolidation of student loans, is expected to result in thousands of students receiving smaller Perkins Loans — or no loan at all — this year as compared to last.

For college students, the timing could not be worse, advocates of the Perkins

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