Senator Debbie Stabenow Discusses High Interest Rate Controversy For Student Loans
U.S. Senator Debbie Stabenow and News Director Walt Lindala
Marquette, MI – (Great Lakes Radio News) – The U.S. Senate is battling on legislation co-authored by U.S. Senator Debbie Stabenow that will save millions of dollars on student loans and reduce the deficit by billions of dollars.
Stabenow called in to the SUNNY Morning Show with Walt & Mike today to discuss the The Bank on Students Emergency Loan Refinancing Act, introduced by her, Senator Elizabeth Warren and others.
The Senator said the plan would allow people to refinance their existing loans, taken out at higher interest rates in the past, at the lower rates available to new borrowers during the 2013-2014 school year, saving them hundreds or thousands of dollars.
Stabenow said a Republican filibuster held up a vote on the legislation, which is fully paid for and would save taxpayers billions of dollars by enacting the Buffett Rule, which ensures that millionaires and billionaires pay their fair share of taxes.
Stabenow added that Michigan ranks in the top ten of states with the highest average student loan debt, and 62% of Michigan students have debt when they graduate.
LISTEN IN – Senator Debbie Stabenow on the Student Loan Interest Rate Debate.