WASHINGTON (AP) -- Senate Republicans on Wednesday blocked legislation aimed at letting people refinance their student loans at lower rates, a pre-ordained outcome that gave Democrats a fresh election-year talking point against the GOP.
The 56-38 vote fell short of the 60 that would have been needed to advance to debate on the measure by Sen. Elizabeth Warren, D-Mass. Her bill would have let millions of borrowers, some with years-old debt and interest rates topping 7 percent or more, refinance at today's lower rates.
The bill would have been paid for with the so-called Buffett Rule, which sets minimum tax rates for people making over $1 million.
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5 comments:
Good for them! why should the people pay for their debt. Looking at the colleges payroll that was published here a week or 2 ago.. let the Universities eat the debt!
Good job guys! Put their back to the wall and make them prove they are responsible citizens.The last thing we need is a country full of deadbeats.Make them pay every last cent!!
Really a stupid move, students should be able to refinance at their choice.
As smoking rates have gone down fat has gone up. It is a direct correlation. Wow one and lost the other.
First they can refinance at their choice. They can go and get a loan and pay off the student loan when ever they want. The problem is that they are already getting lower than market rates, and they want even lower. The idiot president wants to forgive their loans.. Sorry I had to pay mine off.. are you going to give me a portion back because I worked hard and did with out for a few years to honor my debt. As 9:40 said, let the University write it down...
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