March 19, 2015

Springfield Republican: 22 US Senators Explain Support for Elizabeth Warren's Student Loan Debt Refinancing Bill

MAR 19, 2015

WASHINGTON - U.S. Sen. Elizabeth Warren reintroduced a bill on Wednesday that would provide a bit of relief for people struggling to repay college loans.

The Bank on Students Emergency Loan Refinancing Act would allow people holding student loans financed at rates higher than today's interest rate to refinance those loans, similar to the way one refinances a home mortgage or car loan. In June 2014, the measure died after a 56-38 vote fell short of the 60 needed to advance to debate on the bill.

While she has suggested paying for the change in law by enacting the so-called Buffett Rule, which sets minimum tax rates for people making over $1 million, she is challenging Republicans opposed to the notion to have an old fashioned Washington debate on the issue to find a middle ground.

But at least one member of Congress and 22 U.S. senators are already on board.

Read the full article here.