Kentucky Local News, Weather, Sports | Lexington, KY | WKYT

Senate Democrats push student loan bill

Senate Democrats say allowing students to refinance their loans saves borrowers money. Republicans say the move is a political ploy.

MGN images

WASHINGTON (AP) - Democrats are keeping up their election-year drumbeat on student loan rates, scheduling a Senate vote to debate legislation allowing students to refinance their debt at lower rates.

Republicans say it's a political gimmick that would raise taxes without addressing the real causes of rising student loan rates.

Without GOP backing, the bill is unlikely to get the support needed to advance. But the debate allows Democrats to showcase steps aimed at helping the middle class this election year.

The move by Senate Democrats comes after two days during which President Barack Obama made student loans a focus and announced executive action to limit how much certain student borrowers would have to pay.

Supporters say the bill by Sen. Elizabeth Warren could save millions of borrowers $2,000 each.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

WKYT

2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 262672841 - wkyt.com/a?a=262672841
Gray Television, Inc.