Give students and their families a fair shot to afford a college education without crushing debt by giving borrowers the opportunity to refinance their student loan debt to the same lower prices agreed upon for new student loan borrowers this year.
Why is this important?
We need to ensure that a college education still means a better life for the Americans who put themselves through school. Our government should not be profiting off of crushing student debt. Rather, we should be working to make college affordable for all Americans. An affordable college education means a more educated and economically prosperous America. Bringing down the interest rates on existing student loans would help young Americans to achieve some economic security in today's economy. The $1.2 trillion dollars in student loan debt in America is a crisis that threatens our economy. That is why we must give student borrowers the ability to refinance at today's lower rates—rates agreed upon by both Republicans and Democrats. It's time we address the issue of student loan debt in America—Senator Nelson, please support the Bank on Students Emergency Loan Refinancing Act.
