-- for current undergraduate perkins loan borrowers. it requires that institutions award the maximum annual limit of both subsidized and unsubdiesed direct loans prior to awarding a perkins loan for new undergraduate perkins loan borrowers. it requires the institution to disclose the perkins loan borrowers the following: that the program is ending. next, that with taking this loan they'll not be eligible for certain repayment and forgiveness benefits available to borrowers utilizing the direct loan program. for an undergraduate, your interest rate is lower in the direct loan program, and you have a more generous way to repay your loan than under the perkins loan. we want the perkins loan borrowers to know that. we want them to know they may consolidate their perkins loan into a federal direct loan to receive the benefits of the direct loan program. that is the lower rate and the more generous repayment terms. we want them to know that federal direct loans and perkins loans have different interest rates. we want them to know that if they'