The Truth Behind Criticisms of Sen. Warren’s Student Loan Refinance Bill

June 11, 2014

The Senate voted in favor of millionaires over students Wednesday morning after Republican Senators blocked Sen. Elizabeth Warren’s (D-Mass) bill giving eligible student loan borrowers a fair shot at managing their debt. The bill would allow millions of students pressed by heavy debt to refinance their loans at the lower interests rates currently offered in the federal student loan program. This act would have been financed by implementing what’s called the “Buffett Rule”, which would close tax loopholes for people making over $1 million in a given year. The blocking of Sen. Warren’s bill represents a blow to many Americans who are struggling to get ahead and repay their crippling student loans.

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