Student loan debt is crushing young people. Total debt is now $1.2 trillion, more than all outstanding credit card debt in America. The overwhelming burden of student debt keeps young people from buying homes, buying cars, starting small businesses, saving for retirement, and making purchases that strengthen our economy.

Last year, the vast majority of Republicans agreed that federal student loan interest rates were far too high, and Congress lowered the rates this year for new borrowers. But nothing was done for the millions of people still stuck with existing high interest rate loans.

We should give students and their families a fair shot to afford a college education without crushing debt by giving borrowers the opportunity to refinance their student loan debt to the same lower prices agreed upon for new student loan borrowers this year. 

Tell Congress to give a much-needed break to young people struggling to build a future. Join us in support of refinancing by signing in favor of the Bank on Students Emergency Loan Refinancing Act.

 

Signed by:

 

Sen. Elizabeth Warren (MA)
Sen. Patrick Leahy (VT)
Sen. Carl Levin (MI)
Sen. Jay Rockefeller (WV)
Sen. Barbara Mikulski (MD)
Sen. Barbara Boxer (CA)
Sen. Patty Murray (WA)
Sen. Dick Durbin (IL)
Sen. Jack Reed (RI)
Sen. Mary Landrieu (LA)
Sen. Chuck Schumer (NY)
Sen. Debbie Stabenow (MI)
Sen. Maria Cantwell (WA)
Sen. Bob Menendez (NJ)
Sen. Ben Cardin (MD)
Sen. Bernie Sanders (VT)
Sen. Sherrod Brown (OH)
Sen. Claire McCaskill (MO)
Sen. Amy Klobuchar (MN)

Sen. Sheldon Whitehouse (RI)
Sen. Mark Udall (CO)
Sen. Tom Udall (NM)
Sen. Jeanne Shaheen (NH)
Sen. Jeff Merkley (OR)
Sen. Mark Begich (AK)
Sen. Kirsten Gillibrand (NY)
Sen. Al Franken (MN)
Sen. Joe Manchin (WV)
Sen. Richard Blumenthal (CT)
Sen. Brian Schatz (HI)
Sen. Tammy Baldwin (WI)
Sen. Chris Murphy (CT)
Sen. Mazie Hirono (HI)
Sen. Martin Heinrich (NM)
Sen. Heidi Heitkamp (ND)
Sen. Edward Markey (MA)
Sen. Cory Booker (NJ)
Democratic Senatorial Campaign Committee

BANK ON STUDENTS

Give Student Borrowers a Fair Shot by Supporting the Emergency Loan Refinancing Act

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