Oldest campus loan terminated by UW System

Laurel Marcinkus | marci001@rangers.uwp.edu

If there is one thing that any UW-Parkside student knows, it is that college is expensive. In fact, many students are in need of financial aid and scholarships in order to carry the cost of a post secondary education.

The Perkins Loan

Thankfully, UW-Parkside has many plans in place to ensure financial success for students. However, as of late, one of UW-Parkside’s longest standing loans has been cut. This loan would be the Perkins Loan.

The Perkins Loan is a federal aid program that is administered to low-income students who need assistance paying for school. It is specifically considered a Campus Based Aid, which means that the government allocates funds directly to UW schools,  who then distributes those funds in a way they see fit. In other words, the loan is flexible. It gives the university discretion in terms of who receives the funding and how much they receive.

Kristina Klemens, the Director of Scholarships and Financial Aid at UW-Parkside, says that a big perk of the Perkins Loan is that it provides schools like ours with the means to help students who do not receive much federal aid. It helps to offset what they need, versus what they have in other financial aid packages.

With all this in mind it calls to question, why was the Perkins Loan taken away? Unfortunately, it is quite a mystery. However, Klemens offers insight, as she believes that the loan was pulled so that the funding could go elsewhere.  At the moment, there may be more pressing costs that must be fulfilled.

A new plan

Fortunately, the UW System is teaming up with a committee of state representatives in order to implement a replacement plan. Klemens, who is on the committee herself, is looking forward to executing a new program, while also maintaining the core values of the old one.

Additionally, she is honored to represent UW-Parkside’s diverse population and hopefully, bring a new perspective to the table. If all goes well, low-income students will not have to go without the financial assistance for too long.

There are options
However, in the meantime, there are other financial aid options available to those in need. There are campus-based aid programs such as the SEOG Grant and the work study program, while there are also a number of different loans available for both parents and students to take out.  Among these types is the PELL Grant, the largest federal grant program offered to students.

Any student can apply for financial aid. All they have to do is fill out the FAFSA forms to see if they qualify. From there, the university will contact them if they are eligible to receive funding.

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