Student loan refinancing good idea
On June 11, 2014, 37 U.S. senators, all Republicans, blocked passage of the brilliant Bank on Students Emergency Loan Refinancing Act, sponsored by Sen. Elizabeth Warren, D-Mass. This bill would have allowed existing student loan borrowers the chance to refinance their debt at current lower interest rates.
Refinancing debt is a common practice for homeowners, businesses and other entities. Allowing student loan refinancing is a smart, sensible idea that would have benefited so many millions of Americans while stimulating our economy. The fact this great idea was blocked is a tragic loss. Alaskans are so fortunate to have two senators who had the decency to vote in favor of the bill’s passage: Sen. Mark Begich (co-sponsor) and Sen. Lisa Murkowski.
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