Understanding The Bank on Students Emergency Loan Refinancing Act and Its Impact

The bill proposed by Senator Warren addressed this issue in two key ways. First, it would allow eligible borrowers to refinance their federal student loans through a federal refinancing program. For example, borrowers with Direct and Federal Family Education Loan (FFELP) loans would have been able to refinance to the lower interest rates of 2013-2014.

Second, borrowers who were in good standing would have been able to refinance private student loans through the same federal program and receive the 2013-2014 rate. Any private student loans refinanced into federal student loans would be given all of the protections of the federal student loan program.

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The Student Loan Crisis is worse than You Think

An astonishing 49.8% of Millennials said they would give up the right to vote in the next two presidential elections in exchange for student-loan forgiveness, a Pollfish survey conducted by the loan refinancer Credible found.

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Bond Investors Starting to Dump U.S. Student Loan Debt as Too Risky

It looks as if a student loan meltdown could be imminent. That could be bad news for the economy because the amount of student loans in the United States now exceeds the amount of credit card debt.

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It Is Easier to Pay off a Mortgage than Student Loan Debt

tudent loan debt is now the most insidious and destructive form of obligation in America. It’s worse than mortgages and possibly even a greater threat to economic stability and individual futures than subprime mortgages were.

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Student Loan Debt a False Crisis that could easily be Solved

Since it is obvious that a large percentage of that student loan debt is probably uncollectable, allowing borrowers to get rid of it through bankruptcy would be the best solution. The problem is that colleges don’t want to do that because they don’t want to admit that their degrees are worthless.

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