WASHINGTON (AP) — Sen. Elizabeth Warren wants the next debate in Congress on student loans to focus on helping borrowers refinance their debt.
The Massachusetts Democrat was to file a bill Tuesday that would open the door for potentially millions of recipients of federal loans to refinance at the same rate current recipients can get. Undergraduates, for example, qualify for loan at a 3.86 percentage rate.
The bill is part of a larger effort by Democrats to focus on college costs leading up to the November election. Reps. George Miller, D-Calif., and John Tierney, D-Mass., were to file a companion bill in the House.
Last year, Congress reached a bipartisan deal that ties federal student loan interest rates to financial markets for students who take out loans, starting last July.
Warren’s bill would be paid for by raising taxes on wealthy Americans. It faces many hurdles to passage.
Student loan debt totals more than $1.2 trillion.
“This is an economic emergency, and we can’t ignore it any longer,” Warren said.
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She is an oligarchs nightmare, an upper class person that can not be convinced to oppress the commoners. Go Senator Warren!
How many of these people whom she wants to help are going to vote in the midterm elections? We know the answer— almost none. That’s why Wrren is going to remain a shrill voice in the wind, rather than a writer of legislation that passes.
She should be on college campuses making sure that students obtain, fill out, and mail in absentee ballots, and doing whatever it else it is that makes sure everyone who voted for Obama votes again in this years primaries and midterm elections. Until then, she is nothing but a wishful thinker.
I know thats my biggest sorrow dems that complain about how thing are in this country then dont get off their collective asses and get down to the polls and vote.alex sink lost by 3,500 votes against jolly who the republicons didnt even want…thats just dems being lazy …saw her on the daily show and he point was if the banks can borrow money at 0% why not students who want an education … we need a more people with an education to take us int the future and not have to worry about the cost