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Received this e-mail today from Senator Brian Schatz (D. HI):
Like a lot of parents, the thought of how Linda and I will pay for our children's college educations is rarely far from my mind.

Higher education is a key part of the ladder up economically. But for too many people, crushing student loan payments make higher education look like a road not to opportunity, but to a lifetime of debt.

That’s why I joined with Senator Elizabeth Warren to introduce the Bank on Students Emergency Loan Refinancing Act, which would allow borrowers to refinance their loans at today’s lower interest rates, potentially saving hundreds of dollars each year.

Join the call for affordable education: sign the petition urging Congress to allow students to refinance their loans.

Making college affordable is central to building an economy where everyone has a fair shot to get ahead, which is why it’s long been one of my top priorities.

I introduced the College Affordability and Innovation Act with Senator Chris Murphy earlier this year to ensure that colleges receiving federal dollars are doing their best to provide their students a quality education at a reasonable cost.

The new bill I introduced with Senator Warren would allow students with existing loans — many of which have interest rates of 7% or more — to refinance at today’s lower rate of 3.86%. That rate, of course, was achieved last year when Republicans joined the effort led by Democrats and President Obama to cut student loan rates.

Sign the petition: urge Congress to pass the Warren-Schatz college affordability bill and help make sure that paying for college doesn’t lead to a lifetime of debt.


Brian Schatz
U.S. Senator

Click here to add your name:

Originally posted to pdc on Thu May 08, 2014 at 01:30 PM PDT.

Also republished by Youth Kos 2.0 and The Democratic Wing of the Democratic Party.

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