
Senator Kirsten Gillibrand has just introduced the Federal Student Loan Refinancing Act, legislation which would allow students to refinance their college debt at a much lower fixed rate of interest. These reforms are especially needed, because in July US student loan rates are set to double to nearly 7%. Strangely, this is also happening at a time when our government continues to allow billionaire Wall Street bankers to borrow money for a small fraction of that cost.








