Student Loan Repayment
Many Americans have outstanding undergraduate student loans with interest rates of 7 percent or higher; however, those who took out loans during the 2013-2014 school year pay a rate of 3.86 percent under the Bipartisan Student Loan Certainty Act, passed by Congress in 2013. On March 18, 2014, Senator Elizabeth Warren (MAD) and Representative Joe Courtney (CT-D) introduced the Bank on Students Emergency Loan Refinancing Act. The legislation would allow those with college loan debt to refinance at the lower interest rates. The rates would be slightly higher for graduate student loans. The cost would be paid for by requiring…
