Throughout the summer, Sen. Elizabeth Warren has been promoting legislation that would provide relief to students with educational debt. As the Senate concludes its work—and I use that word loosely—before the November elections, she is taking another run at the issue.
Most recently, Warren (D-Mass.) made her case in an article for credit.com that reappeared in the Sept. 9 edition of the Huffington Post: “The Vote That Could Cut Your Student Loan Bills.” Her point is simple: Students who took out educational loans prior to July 1, 2013, are locked into an interest rate of nearly 7 percent. “Older loans run 8-9 percent and even higher,” she writes. She’d like to bring that rate down by allowing graduates (and parents who cosigned their loans) to refinance them.
