The extension for the Higher Education Act, which includes the federally funded Perkins loan, passed Monday in the U.S. House of Representatives.

The Higher Education Extension Act of 2015 is now set to be voted on by the Senate. If it passes, it will then be signed by the president and be voted on for reauthorization in the future.

The Perkins loan is included in the Higher Education Act, which President Lyndon B. Johnson originally enacted in 1965.

The Perkins loan is partially funded by the university, and, as a result, Iowa State chooses the recipients who are in financial need, as this loan accrues no interest until after graduation.

This particular loan, which is one of five included in the act, will expire Wednesday if Congress does not extend the program.

If no action is taken on the Higher Education Act and an extension is not passed, students who would normally qualify for loans included in the act would have to find funds elsewhere.

Students who would usually qualify for the Perkins loan would likely have to resort to a much higher interest-rate loan through the private loan market, making for higher debt.

Sophia Magill, assistant director of government relations, said she feels it would be disappointing for students and their families to have to resort to alternative loan methods as it disrupts the plans they might have made. Magill said she advocates for ISU issues in federal government regarding matters such as the Higher Education Act.

Magill said if there is no action now, and students have to make a different decision, that’s disruptive.

“The Perkins program is a critical tool that allows Iowa State to really combine federal funds with additional funds held by the university to serve those low-income students,” Magill said.

Dan Breitbarth, president of Student Government, said that from his research discussion with members in D.C.. he’s fairly confident that Congress doesn’t want this on its track record as well.

Roberta Johnson, director of the Office of Student Financial Aid, said she has talked to representatives in Washington twice in the last month concerning this matter.

“It sounds like the discussions will start this fall, but they don’t expect that there will be a full vote on the reauthorization until sometime after the first of [next] year,” Johnson said.

Johnson also said the hope is that the bill passes and is signed by the president, allowing the Perkins program to stay “alive and kicking long enough for Congress to decide what [it wants] to do with it, until [it gets] to the reauthorization.”

“With the Perkins [loans], it’s my understanding that the House wants them to continue, but the Education Committee in the Senate has a different opinion that they ought to lapse,” said Sen. Chuck Grassley, R-Iowa.

Although Grassley is not a part of the Education Committee within the Senate, he said the members believe the Perkins program should subset, as other sufficient programs are available to fill the needs of that set of students.

“This whole higher education programs are going to be under review right now by the committee. It’s my understanding that that’s the next thing on their agenda,” Grassley said.

James Rice, Grassley’s education expert, said in regard to the Perkins loan that incoming students would have to resort to the more traditional Stafford loans to finance their education.

“Anybody who has a Perkins loan now can keep getting it, but it would affect incoming students,” Rice said.

Magill said 3,095 students received funding from the Perkins Loan program as of last year.

”Iowa State has expressed to our senator offices that we would support an extension because it does affect over 3,000 of our students,” Magill said.

Breitbarth also said Student Government will play a role in the reauthorization of the Higher Education Act.

“We will likely be doing some lobbying efforts,” Breitbarth said. “Not necessarily for or against one position as far as that bill goes but just for higher education and affordable education.”