Today the Senate declined Elizabeth Warren’s proposal, which would’ve enabled millions of Americans with expensive student loans to refinance into cheaper debt. According to The Huffington Post, “the 56-38 vote on the refinancing proposal, sponsored by Sen. Elizabeth Warren (D-Mass.), failed to garner the 60 votes needed to overcome a Republican filibuster. Warren’s proposal, which mostly targeted student loans owned or guaranteed by the Department of Education, sought to fund the reduction in borrowers’ student loan payments by increasing taxes on wealthy households… They said the measure wouldn’t help reduce the skyrocketing cost of college and argued that it was not the best way to help former students manage their debt.”
P.O.S. wants to know what you current/future college students think about Warren’s proposal (expensive student loans to refinance into cheaper debt ) being declined? Let us know what you think below!
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