Wisconsin college students could lose $41M in federal financial aide

MILWAUKEE-- Thousands of college students across Wisconsin could find themselves in a difficult position paying for school.  The Federal Perkins Loan program expired earlier this week.  

Sen. Tammy Baldwin (D-WI) said the program impacts more than 20,000 undergraduate and graduate students across the state.  The federal program gives students up to $5,500 each year in financial aide.  Students enrolled in the loan program do not have to repay their loans until nine months after graduation with fixed interest rates.

Students in Wisconsin receive about $41 Million each year.  Officials at the University of Wisconsin- Madison say there's no other federal program that can give students that kid of money.

When Sen. Baldwin addressed the US Senate, she said we can not put college students in this position, especially low income students. 

"We simply can not sit and watch idly by, and watch the Perkins loan program expire as America's students, are left with such uncertainty," said Sen. Baldwin. 

Many senate republicans believe the program needs to expire because they feel it's out of date.