WASHINGTON — U.S. Senators Barbara A. Mikulski and Ben Cardin (both D-Md.) today became original cosponsors of the Bank on Students Emergency Loan Refinancing Act. Introduced by Senator Elizabeth Warren (D-Mass.), the legislation would allow those with outstanding student loan debt to refinance at the interest rates that were approved last year for new borrowers. A previous version of the bill was voted on in the 113th Congress, and every Senate Democrat and three Senate Republicans voted to move the bill forward, falling just short of breaking a Republican filibuster.
“Middle class families need a raise and more money in the family checkbook. That means a fair shot at affordable higher education to help them climb the rungs of America’s opportunity ladder,” said Senator Mikulski, a senior member of the Senate Health, Education, Labor and Pensions (HELP) Committee. “Right now, millions of American students are graduating from college and universities but as they are handed their diplomas, they are being handed a lifetime of debt. Getting a college education is the core of the American dream. I will continue to fight so Maryland families have access to that dream with a fair shot at higher education and a government on their side.”
“How can we allow Americans buying high-end luxury items to refinance loans after rates drop, but not allow students to refinance their high-rate loans for college?” said Senator Cardin, a member of the Finance Committee. “The federal government should be responsible for ensuring all Americans have a fair shot at success, not be in the business of turning profits off of student loans. This commonsense legislation ensures that at a time of intense global competition we are not pricing American students out of a higher education.”
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
5 comments:
posers
They have always had a fair shot you dumb@$$es. There are Pell Grants, student loans, scholorships, the United Negro College Fund. It must be time for Cardin to come up for re-election.
Thugs !
If affordability were the only impediment to otherwise qualified students, this would be an OK idea. Competing and securing a higher education slot on the merits of your current grades and abilities is how it should be - then get the funding based on need.
The premise that 'all kids should go to college for better potential' is pure BS! Some should not go - they should take the best jobs they can based on their abilities!
No free rides to unqualified candidates!
Did anyone read the article? The objective is to allow borrowers to refinance their loans at a more advantageous rate. Wouldn't you want this for your children and grandchildren?
Post a Comment